{"schema_version":"secwatch.filing_event.v1","accession":"0001074828-26-000023","form_type":"8-K","ticker":"USBC","cik":"0001074828","company_name":"USBC, Inc.","filed_at":"2026-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:31.913611+00:00","generated_at":"2026-05-15T00:13:26.283081+00:00","sec_items":["2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"USBC draws $5M under MLA (total $10M); tokenized deposit Phase 1 testing ongoing","bullets":["USBC drew additional $5M under existing Master Loan Agreement with Payward Interactive, increasing total borrowings to $10M.","Loan carries 8.5% interest, matures April 27, 2027, secured by Bitcoin collateral held at Payward Financial.","Phase 1 tokenized deposit testing ongoing; development costs accelerating, $3.5M reimbursed to Vast Holdings under $10.5M cap.","Results from Phase 1 will inform timing of subsequent phases and potential retail product launch."],"urls":{"canonical":"https://secwatch.observer/filing/0001074828-26-000023","json":"https://secwatch.observer/filing/0001074828-26-000023.json","markdown":"https://secwatch.observer/filing/0001074828-26-000023.md","text":"https://secwatch.observer/filing/0001074828-26-000023.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1074828/000107482826000023/0001074828-26-000023-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1074828/000107482826000023/usbc-20260427.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T00:13:26.283081+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b7d528405066c4bc9918112def7354067062972a","claim":"USBC, Inc. incurred credit facility of $5.0 million with Payward Interactive at 8.5% per annum maturing April 27, 2027.","evidence_excerpt":"On April 27, 2026, USBC, Inc. (the “Company”) drew an additional fixed-rate borrowing of $5.0 million (the \"Second Draw\") under its previously disclosed Master Loan Agreement with Payward Interactive dated March 18, 2026 (the “MLA”), which provides for borrowings of up to $25.0 million in aggregate principal amount for up to a twelve-month term, subject to the execution of one or more individual loan term sheets.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1074828/000107482826000023/0001074828-26-000023-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$5.0 million"},{"label":"Counterparty","value":"Payward Interactive"},{"label":"Rate","value":"8.5% per annum"},{"label":"Maturity","value":"April 27, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}