secwatch.observer — SEC 8-K summary
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Issuer:     IGC Pharma, Inc. (IGC)
CIK:        0001326205
Form:       8-K
Filed at:   2026-03-12T23:59:59+00:00
Accession:  0001185185-26-000846
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IGC Pharma issues $353K convertible note to Vanquish Funding; also obtains $219K loan
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- Principal $353,050 includes $46,050 original issue discount; net proceeds $307,000 for working capital.
- Upon default, holder can convert at 75% of lowest 10-day trading price, subject to 4.99% ownership cap.
- Additional tranche up to $2,015,000 over 12 months available subject to further agreement.
- Separate loan from One Deck Capital of ~$219,000 with scheduled periodic payments for general corporate purposes.
- Conversion capped at 19.99% of outstanding shares without shareholder approval per NYSE American rules.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326205/000118518526000846/0001185185-26-000846-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326205/000118518526000846/igc8k031126.htm
  HTML page:      https://secwatch.observer/filing/0001185185-26-000846

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