secwatch.observer — SEC 8-K summary
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Issuer:     GROWLIFE, INC. (—)
CIK:        0001161582
Form:       8-K
Filed at:   2023-04-04T23:59:59+00:00
Accession:  0001161697-23-000223
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1161582/000116169723000223/0001161697-23-000223-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1161582/000116169723000223/form_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001161697-23-000223

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