secwatch.observer — SEC 8-K summary
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Issuer:     IGC Pharma, Inc. (IGC)
CIK:        0001326205
Form:       8-K
Filed at:   2026-04-20T23:59:59+00:00
Accession:  0001185185-26-001437
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/0001185185-26-001437-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326205/000118518526001437/igc8k200426.htm
  HTML page:      https://secwatch.observer/filing/0001185185-26-001437

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