secwatch.observer — SEC 8-K summary
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Issuer:     HeartSciences Inc. (HSCS)
CIK:        0001468492
Form:       8-K
Filed at:   2024-09-10T23:59:59+00:00
Accession:  0000950170-24-105155
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Heart Test Laboratories enters $2.51M note purchase agreement with Streeterville Capital, net proceeds $1.86M
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- Issued $2.51M unsecured promissory note to Streeterville Capital; 8.5% interest, 18-month maturity, $500K OID.
- Net proceeds of $1.86M after OID and $10K transaction expenses; used for general working capital.
- Monthly redemption cap of $270K starting March 2025; balance increases 5% if not reduced by $900K by Sept 2025.
- Placement agents Maxim Group and Ascendiant Capital received 7% commission on gross proceeds.
- Note sold in unregistered transaction relying on Section 4(2) exemption; HSCS listed on Nasdaq.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1468492/000095017024105155/0000950170-24-105155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1468492/000095017024105155/hscs-20240906.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-105155

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