---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-21-030187"
form_type: "8-K"
ticker: "FORA"
cik: "0001829280"
company_name: "Forian Inc."
filed_at: "2021-09-02T23:59:59+00:00"
generated_at: "2026-06-29T06:13:29.368251+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Forian raises $24M via 3.5% convertible notes due 2025; appoints Michael Vesey as CFO

## Summary
- $24M 3.5% convertible notes due 2025, conversion price $11.98, warrants for 20% of principal.
- Director Martin Wygod purchased $6M of notes; unaffiliated investors bought $18M.
- Michael Vesey appointed CFO effective Sept 2, 2021; base salary $300k plus 40k RSUs and 350k NQSOs.
- Former CFO Clifford Farren transitions to Special Advisor, then consultant through March 2022 at $13k/month.
- Proceeds for data acquisition, working capital, and general corporate purposes.

## SEC filing metadata
- accession: 0001140361-21-030187
- form_type: 8-K
- ticker: FORA
- cik: 0001829280
- company_name: Forian Inc.
- filed_at: 2021-09-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829280/000114036121030187/0001140361-21-030187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829280/000114036121030187/brhc10028642_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-21-030187
- JSON: https://secwatch.observer/filing/0001140361-21-030187.json
- Plain text: https://secwatch.observer/filing/0001140361-21-030187.txt

## Key facts
- Executive change
  Michael Vesey was appointed as Chief Financial Officer at Forian Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On September 1, 2021, the Company appointed Michael Vesey to the position of Chief Financial Officer, effective September 2, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829280/000114036121030187/0001140361-21-030187-index.htm
- Executive change
  Clifford Farren changed role as Special Advisor at Forian Inc..
  - Action: transitioned
  - Role: Special Advisor
  source text: Clifford Farren will transition from Chief Financial Officer to Special Advisor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829280/000114036121030187/0001140361-21-030187-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.