secwatch.observer — SEC 8-K summary
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Issuer:     Mitesco, Inc. (MITI)
CIK:        0000802257
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001185185-22-001379
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mitesco raises $205K in insider-led bridge notes convertible at 150% if Nasdaq listing achieved by May 2023
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- Issued eight promissory notes totaling $205K: $100K to Mercer Street and $15K each from CEO Diamond, directors, officers.
- Notes bear 10% interest, mature May 2023; principal converts into Series E Preferred at 150% if common stock lists on national exchange by May 10, 2023.
- Lenders receive 512,500 warrants exercisable on terms similar to Series A warrants, priced per Nasdaq offering terms.
- If listing fails, notes remain debt with 10% interest; default rate rises to 18%.
- Exchange agreements with each lender; notes cancel upon exchange for Series E Shares under Series E SPA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/802257/000118518522001379/0001185185-22-001379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/802257/000118518522001379/mitesco20221205_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-22-001379

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