secwatch.observer — SEC 8-K summary
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Issuer:     SusGlobal Energy Corp. (SNRG)
CIK:        0001652539
Form:       8-K
Filed at:   2022-03-15T23:59:59+00:00
Accession:  0001062993-22-007676
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SusGlobal Energy issues $2M convertible notes with 25% OID, netting ~$1.5M
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- Entered into SPAs for $2M principal of 25% OID convertible notes; net proceeds ~$1.5M after $500K OID.
- Notes mature June 3, 2022 or upon a Liquidity Event; convertible at 30% discount to offering price in a public offering.
- Issued 95,000 restricted shares and $60,000 cash to a consultant related to an investor.
- Proceeds for general working capital; Spartan Capital and Revere Securities acted as placement agents.
- Notes carry 24% default interest and conversion price reset on default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652539/000106299322007676/0001062993-22-007676-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652539/000106299322007676/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-22-007676

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