{"schema_version":"secwatch.filing_event.v1","accession":"0001079973-23-000732","form_type":"8-K","ticker":"ASPU","cik":"0001487198","company_name":"ASPEN GROUP, INC.","filed_at":"2023-05-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.011410+00:00","generated_at":"2026-06-14T23:32:24.342576+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Aspen Group closes $12.4M private placement of 15% senior secured debentures with JGB Management","bullets":["Sold $12.4M face value 15% senior secured debentures (11% OID, net ~$11M) and 2.2M warrants at $0.01/share exercise price.","Proceeds used to repay $5M existing credit facility and for general working capital needs.","Debentures mature May 12, 2026; 15% interest payable monthly; secured by substantially all assets.","Warrants have 5-year term, anti-dilution protection, and a 4.99% beneficial ownership limitation.","CEO states financing improves financial position and allows increased marketing spend for nursing programs."],"urls":{"canonical":"https://secwatch.observer/filing/0001079973-23-000732","json":"https://secwatch.observer/filing/0001079973-23-000732.json","markdown":"https://secwatch.observer/filing/0001079973-23-000732.md","text":"https://secwatch.observer/filing/0001079973-23-000732.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1487198/000107997323000732/0001079973-23-000732-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1487198/000107997323000732/aspu_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T23:32:24.342576+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":"ae708b1d23c2df56b8a2c8d143b4205008b0d137","claim":"ASPEN GROUP, INC. incurred senior notes of $12.4 million with JGB Management Inc. at 15% maturing May 12, 2026.","evidence_excerpt":"On May 12, 2023, Aspen Group, Inc. (the “Company”) entered into a Securities Purchase Agreement with JGB Management Inc., (“JGB”) pursuant to which that day the Company sold to JGB a total of approximately $12.4 million in the aggregate principle amount of 15% Senior Secured Debentures","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1487198/000107997323000732/0001079973-23-000732-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$12.4 million"},{"label":"Counterparty","value":"JGB Management Inc."},{"label":"Rate","value":"15%"},{"label":"Maturity","value":"May 12, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"8df4721a55e8d48f81dbeecc9aceacd381b04db1","claim":"ASPEN GROUP, INC. entered into Securities Purchase Agreement with JGB Management Inc. valued at Approximately $12.4 million aggregate principal amount of 15% Senior Secured Debentures and warrants (effective 2023-05-12).","evidence_excerpt":"On May 12, 2023, Aspen Group, Inc. (the “Company”) entered into a Securities Purchase Agreement with JGB Management Inc., (“JGB”) pursuant to which that day the Company sold to JGB a total of approximately $12.4 million in the aggregate principle amount of 15% Senior Secured Debentures (“Debentures”) and five-year warrants to purchase a total of 2,214,114 shares of its common stock at an exercise price of $0.01 per share (the “Warrants”), for total gross proceeds of approximately $11 million, representing an 11% original issue discount on the Debentures, before deducting offering fees and expenses.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1487198/000107997323000732/0001079973-23-000732-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"JGB Management Inc."},{"label":"Value","value":"Approximately $12.4 million aggregate principal amount of 15% Senior Secured Debentures and warrants"},{"label":"Effective","value":"2023-05-12"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}