secwatch.observer — SEC 8-K summary
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Issuer:     CLS Holdings USA, Inc. (—)
CIK:        0001522222
Form:       8-K
Filed at:   2024-01-09T23:59:59+00:00
Accession:  0001185185-24-000056
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CLS Holdings raises $2.01M via secured notes and convertible debentures at 16% interest
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- Raised $930K in secured promissory notes, 16% interest, due July 8, 2025.
- Raised $1.08M in unsecured debentures convertible to common at $0.0333 per share, 16% interest.
- Company plans to convert all debentures into shares before January 15, 2024, diluting equity.
- Secured notes are quarterly pay; debentures can be paid in cash or stock at company's option.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1522222/000118518524000056/0001185185-24-000056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1522222/000118518524000056/cls20240108_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-000056

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