Viking Global Technologies: amends $1,200,000 convertible note

What happened

• The filing says that on Sep 30, 2026 the company entered into Amendment No. 1 to an unsecured convertible promissory note (the "FK Note") originally issued Apr 7, 2025 to FK Venture LLC in the original principal amount of $1,200,000, which bears interest at 10% per annum and had a maturity date of Sep 30, 2026.
• The filing also discloses a Promissory Note dated Oct 1, 2026 issued by Viking Protection Systems, LLC (VPS), a consolidated subsidiary, and a guaranty dated Oct 1, 2026 by James A. Doris in favor of the investors named therein.

Key details

• Amendment No. 1 changes the FK Note maturity to the earlier of (i) Apr 1, 2027 or (ii) the date on which the company receives written notice of a default under any promissory note then outstanding in favor of the company's existing senior secured lender if that default is not remedied within 7 days (a "Senior P. Note Default").
• The conversion price under the FK Note was deleted and replaced so that conversion is $0.15 per share if there is no Senior P. Note Default, or $0.02 per share if there is a Senior P. Note Default, each subject to proportional adjustment for stock splits.
• Except as expressly stated in the Amendment, all other terms of the FK Note remain in full force and effect.
• The VPS promissory note dated Oct 1, 2026 is a direct financial obligation of VPS, a consolidated subsidiary.

Why it may matter

• Item 1.01 reports a material definitive agreement: Amendment No. 1 to the FK Note that changes the maturity and conversion pricing. Item 2.03 reports the creation of a direct financial obligation by the company's consolidated subsidiary (the VPS Note).
• A filing does not show why the insider traded or why the company acted.