---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-26-001437"
form_type: "8-K"
ticker: "IGC"
cik: "0001326205"
company_name: "IGC Pharma, Inc."
filed_at: "2026-04-20T23:59:59+00:00"
generated_at: "2026-05-15T05:17:26.226424+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# IGC Pharma raises $514K via two convertible promissory notes with OID

## Summary
- FirstFire note: $346,910 principal at $307K purchase price, OID $39,910, 12% interest, matures April 10, 2027.
- Vanquish note: $238,050 principal at $207K purchase price, OID $31,050, 12% interest, matures March 30, 2027.
- Upon default, holders can convert at 75% of lowest trading price over prior 10 days; 4.99% beneficial ownership cap per holder.
- Conversion capped at 19.99% of outstanding shares without shareholder approval; proceeds for general working capital.
- Notes are unregistered, issued as exempt under Section 4(a)(2) of the Securities Act.

## SEC filing metadata
- accession: 0001185185-26-001437
- form_type: 8-K
- ticker: IGC
- cik: 0001326205
- company_name: IGC Pharma, Inc.
- filed_at: 2026-04-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/0001185185-26-001437-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/igc8k200426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-26-001437
- JSON: https://secwatch.observer/filing/0001185185-26-001437.json
- Plain text: https://secwatch.observer/filing/0001185185-26-001437.txt

## Source-grounded claims
- claim_id: 4f25dd6dfd9207988147cecac2c9f2e3bd6490ef
  claim: IGC Pharma, Inc. incurred convertible notes of $346,910 with FirstFire Global Opportunities Fund, LLC at 12% maturing April 10, 2027.
  evidence_excerpt: On April 10, 2026, IGC Pharma, Inc. (“IGC” or the “Company”) executed a Securities Purchase Agreement (the “Purchase Agreement”) with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the “FirstFire” or the “Holder”). The execution and delivery of the Purchase Agreement and the related Promissory Note were completed on April 14, 2026. Pursuant to the terms of the Purchase Agreement, the Company issued a Promissory Note (the “Note”) to FirstFire with a total aggregate principal amount of $346,910, which includes an original issue discount of $39,910. The aggregate purchase price paid by FirstFire for the Note is $307,000. The Note matures on April 10, 2027 (the “Maturity Date”). The Company may prepay the Note in full at any time by providing FirstFire with prior written notice. In addition to it, IGC Pharma, Inc. (“IGC” or the “Company”) executed a Securities Purchase Agreement (the “Purchase Agreement”) with Vanquish Funding Group Inc., a Virginia corpora
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/0001185185-26-001437-index.htm
- claim_id: d837a15c95801beaef42df38be0c6f80e4d6db17
  claim: IGC Pharma, Inc. incurred convertible notes of $238,050 with Vanquish Funding Group Inc. at 12% maturing March 30, 2027.
  evidence_excerpt: In addition to it, IGC Pharma, Inc. (“IGC” or the “Company”) executed a Securities Purchase Agreement (the “Purchase Agreement”) with Vanquish Funding Group Inc., a Virginia corporation (“VFG” or the “Holder”). Pursuant to the terms of the Purchase Agreement, the Company issued a Promissory Note (the “Note”) to VFG with a total aggregate principal amount of $238,050, which includes an original issue discount of $31,050. The aggregate purchase price paid by VFG for the Note is $207,000. The Note matures on March 30, 2027 (the “Maturity Date”). The Company may prepay the Note in full at any time by providing VFG with prior written notice. Solely upon the occurrence and continuation of an Event of Default under each of the Notes, each of VFG and FirstFire has the right, but not the obligation, to convert all or any portion of the outstanding balance of its respective Note — including principal, accrued interest, and any applicable default amounts — into shares (the “Conversion Shares”) of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/0001185185-26-001437-index.htm
- claim_id: 00775a5678e70cd06db44124ad73f08fa56e881a
  claim: IGC Pharma, Inc. entered into Securities Purchase Agreement and Promissory Note with FirstFire Global Opportunities Fund, LLC valued at Aggregate principal amount of $346,910 (original issue discount of $39,910), purchase price $307,000 (effective 2026-04-14).
  evidence_excerpt: On April 10, 2026, IGC Pharma, Inc. (“IGC” or the “Company”) executed a Securities Purchase Agreement (the “Purchase Agreement”) with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the “FirstFire” or the “Holder”). The execution and delivery of the Purchase Agreement and the related Promissory Note were completed on April 14, 2026. Pursuant to the terms of the Purchase Agreement, the Company issued a Promissory Note (the “Note”) to FirstFire with a total aggregate principal amount of $346,910, which includes an original issue discount of $39,910. The aggregate purchase price paid by FirstFire for the Note is $307,000. The Note matures on April 10, 2027 (the “Maturity Date”). The Company may prepay the Note in full at any time by providing FirstFire with prior written notice.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/0001185185-26-001437-index.htm
- claim_id: d165893763982c1a4cb4da11ca37a09a0d518c18
  claim: IGC Pharma, Inc. entered into Securities Purchase Agreement and Promissory Note with Vanquish Funding Group Inc. valued at Aggregate principal amount of $238,050 (original issue discount of $31,050), purchase price $207,000 (effective 2026-04-14).
  evidence_excerpt: In addition to it, IGC Pharma, Inc. (“IGC” or the “Company”) executed a Securities Purchase Agreement (the “Purchase Agreement”) with Vanquish Funding Group Inc., a Virginia corporation (“VFG” or the “Holder”). Pursuant to the terms of the Purchase Agreement, the Company issued a Promissory Note (the “Note”) to VFG with a total aggregate principal amount of $238,050, which includes an original issue discount of $31,050. The aggregate purchase price paid by VFG for the Note is $207,000. The Note matures on March 30, 2027 (the “Maturity Date”). The Company may prepay the Note in full at any time by providing VFG with prior written notice.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/0001185185-26-001437-index.htm

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