secwatch.observer — SEC 8-K summary
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Issuer:     IGC Pharma, Inc. (IGC)
CIK:        0001326205
Form:       8-K
Filed at:   2026-07-06T20:02:00+00:00
Accession:  0001185185-26-002808
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IGC Pharma issues 4.27M shares to CEO and PFO to cancel $1.15M in debt
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- CEO Ram Mukunda receives 2,226,475 shares for cancellation of $601,148 owed, including $283,639 in cash advances.
- VP/PFO Claudia Grimaldi receives 2,048,378 shares for cancellation of $553,062 owed, including $268,723 in cash advances.
- Total debt reduction of $1,154,210; no cash paid by the Company; equity increases by same amount.
- Shares issued at $0.27 per share; transaction approved by independent directors and Audit Committee under Rule 16b-3.
- Shares are restricted, unregistered, and issued under Section 4(a)(2) exemption; resale subject to securities laws.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1326205/000118518526002808/0001185185-26-002808-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1326205/000118518526002808/igc8k070626.htm
  HTML page:      https://secwatch.observer/filing/0001185185-26-002808

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