secwatch.observer — SEC 8-K summary
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Issuer:     CHINA PHARMA HOLDINGS, INC. (CPHI)
CIK:        0001106644
Form:       8-K
Filed at:   2021-11-23T23:59:59+00:00
Accession:  0001213900-21-061610
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

China Pharma raises $5M via convertible note to Streeterville Capital with 5% interest and 15-month maturity
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- Issued unsecured convertible promissory note for $5.25M principal ($5M net proceeds after $250K OID) to Streeterville Capital.
- Note carries 5% annual interest; upon default, interest rises to 22% and balance accelerates with 15% or 5% penalty.
- Company reserved 30M common shares for conversion; conversion price at 85% of lowest 10-day VWAP during prior 10 trading days.
- Proceeds used for general working capital; Streeterville's consent required for fundamental transactions.
- Company must file prospectus supplement within 30 days to register up to $5M of common stock for investor.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1106644/000121390021061610/0001213900-21-061610-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1106644/000121390021061610/ea151262-8k_chinapharma.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-061610

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