secwatch.observer — SEC 8-K summary
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Issuer:     HeartSciences Inc. (HSCS)
CIK:        0001468492
Form:       8-K
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0000950170-23-047034
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Heart Test Labs enters $1M unsecured drawdown loan from 5% holder; pays up to 1.5M warrants
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- Loan up to $1M drawn in three installments ($250k+$250k+up to $500k); matures Dec 31, 2023.
- No interest unless default (then 12%); facility fee is warrants to buy up to 1.5M shares.
- Warrants: 500k at $1.00, 500k at $1.25, 500k at $1.50; issued upon drawdowns.
- Lender Matthews Southwest Holdings is controlled by John H. Matthews, a >5% beneficial owner.
- Warrants issued under Section 4(a)(2) and Rule 506 as unregistered securities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1468492/000095017023047034/0000950170-23-047034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1468492/000095017023047034/hscs-20230907.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-047034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer