{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-008146","form_type":"8-K","ticker":"OTLK","cik":"0001649989","company_name":"Outlook Therapeutics, Inc.","filed_at":"2025-01-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:04.307377+00:00","generated_at":"2026-05-27T04:42:52.015072+00:00","sec_items":["1.01","2.03","3.02","5.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Outlook Therapeutics enters $33.1M convertible note with Avondale Capital to refinance Streeterville debt","bullets":["Issued $33.1M unsecured convertible note to Avondale Capital; proceeds primarily used to repay $32.37M Streeterville note.","Note bears interest at prime+3% (floor 9.5%), matures July 1, 2026; conversion price $2.26 per share.","Avondale may convert starting 6 months after issuance or when registration effective; Company can convert if stock ≥$3 for 30 days.","Quarterly debt reduction of at least $3M required; prepayments incur 7.5% exit fee.","Director Lawrence Kenyon reclassified from Class II to Class III to rebalance board classes effective Jan 30, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-008146","json":"https://secwatch.observer/filing/0001104659-25-008146.json","markdown":"https://secwatch.observer/filing/0001104659-25-008146.md","text":"https://secwatch.observer/filing/0001104659-25-008146.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1649989/000110465925008146/0001104659-25-008146-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1649989/000110465925008146/tm254911d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-27T04:42:52.015072+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":"e49c392f34bc88632158039fab91d9855c249c26","claim":"Outlook Therapeutics, Inc. incurred convertible notes of face amount of $33,100,000 with Avondale Capital, LLC at prime rate (as published in the Wall Street Journal) plus 3% (subject to a floor maturing July 1, 2026.","evidence_excerpt":"On January 31, 2025, Outlook Therapeutics, Inc. (the “Company”) entered into a Securities Purchase Agreement (“SPA”) with Avondale Capital, LLC, a Utah limited liability company (the “Lender”), pursuant to which, the Company agreed to issue to the Lender an unsecured convertible promissory note with a face amount of $33,100,000 (the “Note”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1649989/000110465925008146/0001104659-25-008146-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"face amount of $33,100,000"},{"label":"Counterparty","value":"Avondale Capital, LLC"},{"label":"Rate","value":"prime rate (as published in the Wall Street Journal) plus 3% (subject to a floor"},{"label":"Maturity","value":"July 1, 2026"},{"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"}