secwatch.observer — SEC 8-K summary
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Issuer:     Outlook Therapeutics, Inc. (OTLK)
CIK:        0001649989
Form:       8-K
Filed at:   2025-01-31T23:59:59+00:00
Accession:  0001104659-25-008146
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Outlook Therapeutics enters $33.1M convertible note with Avondale Capital to refinance Streeterville debt
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1649989/000110465925008146/0001104659-25-008146-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1649989/000110465925008146/tm254911d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-008146

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer