---
schema_version: "secwatch.filing_event.v1"
accession: "0001161697-23-000223"
form_type: "8-K"
ticker: null
cik: "0001161582"
company_name: "GROWLIFE, INC."
filed_at: "2023-04-04T23:59:59+00:00"
generated_at: "2026-06-17T06:17:22.517973+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Growlife issues $150K convertible note to ONE44 Capital at 60% discount conversion

## Summary
- Principal $150,000; net proceeds $128,250 after $15K OID and $6,750 legal fees.
- Interest 10% p.a.; maturity March 28, 2024; conversion at 60% of lowest closing bid for prior 10 days.
- Prepayment premiums escalate from 110% to 145% of face amount depending on prepayment window.
- Default interest rate 24%; conversion restricted to 4.99% beneficial ownership cap.
- Proceeds used for general working capital.

## SEC filing metadata
- accession: 0001161697-23-000223
- form_type: 8-K
- cik: 0001161582
- company_name: GROWLIFE, INC.
- filed_at: 2023-04-04T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161582/000116169723000223/0001161697-23-000223-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1161582/000116169723000223/form_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001161697-23-000223
- JSON: https://secwatch.observer/filing/0001161697-23-000223.json
- Plain text: https://secwatch.observer/filing/0001161697-23-000223.txt

## Key facts
- Debt Financings
  GROWLIFE, INC. incurred convertible notes of $150,000 with ONE44 Capital LLC at 10% per annum maturing March 28, 2024.
  - Instrument: convertible notes
  - Principal: $150,000
  - Counterparty: ONE44 Capital LLC
  - Rate: 10% per annum
  - Maturity: March 28, 2024
  - Event: incurrence
  source text: with ONE44 Capital LLC, (“ONE44”), pursuant to which ONE44 purchased a convertible promissory note (the “Note”) from the Company in the aggregate principal amount of $150,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of ONE44. The transaction contemplated by the Purchase Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161582/000116169723000223/0001161697-23-000223-index.htm
- Material Agreements
  GROWLIFE, INC. entered into Securities Purchase Agreement and Convertible Promissory Note with ONE44 Capital LLC valued at $150,000 aggregate principal amount (effective 2023-03-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: ONE44 Capital LLC
  - Value: $150,000 aggregate principal amount
  - Effective: 2023-03-29
  source text: On March 29, 2023, (the “Issue Date”), Growlife, Inc. a Delaware corporation (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with ONE44 Capital LLC, (“ONE44”), pursuant to which ONE44 purchased a convertible promissory note (the “Note”) from the Company in the aggregate principal amount of $150,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161582/000116169723000223/0001161697-23-000223-index.htm

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