{"schema_version":"secwatch.filing_event.v1","accession":"0001074828-26-000030","form_type":"8-K","ticker":"USBC","cik":"0001074828","company_name":"USBC, Inc.","filed_at":"2026-06-04T13:15:02+00:00","discovered_at":"2026-06-04T13:16:00.251010+00:00","generated_at":"2026-06-04T13:16:29.535486+00:00","sec_items":["2.03","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"USBC tokenized deposit testing advances; $3.9M spent; additional $5M Bitcoin loan drawn","bullets":["Drew $5M under Master Loan Agreement with Payward Interactive, total outstanding $15M at 8.5%, matures June 1, 2027, secured by Bitcoin.","Tokenized deposit product testing completed for core features (ACH funding, spending, treasury conversion); limited market testing planned.","Development costs accelerating; $3.9M reimbursed to Vast Bank under $10.5M cap as of May 31, 2026.","Collateral coverage would hit 130% margin call on ~13% Bitcoin price drop; no calls or liquidations as of June 3, 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001074828-26-000030","json":"https://secwatch.observer/filing/0001074828-26-000030.json","markdown":"https://secwatch.observer/filing/0001074828-26-000030.md","text":"https://secwatch.observer/filing/0001074828-26-000030.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1074828/000107482826000030/0001074828-26-000030-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1074828/000107482826000030/usbc-20260601.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T13:16:29.535486+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":"b7ec0fd5a3505fcc29dafb52b04df14c8fc9486b","claim":"USBC, Inc. incurred credit facility of $5.0 million with Payward Interactive at 8.5% per annum maturing June 1, 2027.","evidence_excerpt":"drew an additional fixed-rate borrowing of $5.0 million (the \"Third Draw\") under its previously disclosed Master Loan Agreement with Payward Interactive (the \"Lender\") 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. The Third Draw increases the aggregate principal amount outstanding under the MLA to $15.0 million which bears interest at a rate of 8.5% per annum maturing on June 1, 2027","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1074828/000107482826000030/0001074828-26-000030-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":"June 1, 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"}