secwatch.observer — SEC 8-K summary
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Issuer:     Berenson Acquisition Corp. I (—)
CIK:        0001869673
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001193125-24-118210
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Custom Health secures $15M convertible notes from Cable Car; first $3.5M drawn
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- Aggregate principal up to $15M; initial tranche of $3.5M purchased April 22, 2024.
- Notes bear 15% interest (7.5% cash + 7.5% PIK), maturity 5 years, conversion price based on VWAP with $3 floor and $11 cap.
- Compensation shares: 100,000 shares before merger plus 50,000 per $1M additional notes to Cable Car.
- Registration rights granted for resale of conversion shares; combined company must file within 15 days of necessity.
- Notes secured by first-priority lien on assets of Custom Health and its subsidiaries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1869673/000119312524118210/0001193125-24-118210-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1869673/000119312524118210/d827064d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-118210

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