secwatch.observer — SEC 8-K summary
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Issuer:     USBC, Inc. (USBC)
CIK:        0001074828
Form:       8-K
Filed at:   2026-10-01T13:00:00+00:00
Accession:  0001074828-26-000081
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

USBC signs $22M unsecured note with CEO-owned Goldeneye 1995; 8.5% rate, matures Sept 2029
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- USBC may borrow up to $22.0M from Goldeneye 1995 LLC under an unsecured promissory note dated Sept 25, 2026; no advances had been drawn as of the Oct 1, 2026 filing.
- Interest accrues at 8.5% per annum, payable quarterly starting Dec 31, 2026; principal matures Sept 25, 2029, with an option to renew or extend up to one year.
- Goldeneye is solely owned and managed by Robert Gregory Kidd, USBC's Chairman and CEO and holder of a majority of the company's voting power, making it a related-party transaction under Item 404.
- Upon default the rate rises to 11.5%; the note is prepayable in whole or part without premium or penalty and repaid amounts may not be reborrowed.
- Proceeds are earmarked for general corporate and working capital purposes; filing also references liquidity needs and collateral calls under the Bitcoin-backed credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074828/000107482826000081/0001074828-26-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074828/000107482826000081/usbc-20260925.htm
  HTML page:      https://secwatch.observer/filing/0001074828-26-000081

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