---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-093327"
form_type: "8-K"
ticker: null
cik: "0001421636"
company_name: "C-Bond Systems, Inc"
filed_at: "2023-12-06T23:59:59+00:00"
generated_at: "2026-06-07T16:58:29.433648+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# C-Bond eliminates conversion feature of last convertible note; sets monthly payments

## Summary
- Agreement with Mercer Street eliminates conversion rights on $1.11M note; company pays $15k/month for 35 months plus $580k balloon.
- Balloon payment due month 36; early payment discounts of up to 20% if paid by March 31, 2024.
- Company also pays Mercer 20% of gross proceeds from any capital raise over $500k, applied to balloon.
- Interest standstill begins with first payment; note total due as of Nov 30, 2023 was $1,113,090.74.
- Only remaining convertible note on balance sheet; failure to make payments within cure period nullifies agreement.

## SEC filing metadata
- accession: 0001213900-23-093327
- form_type: 8-K
- cik: 0001421636
- company_name: C-Bond Systems, Inc
- filed_at: 2023-12-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1421636/000121390023093327/0001213900-23-093327-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1421636/000121390023093327/ea189546-8k_cbond.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-093327
- JSON: https://secwatch.observer/filing/0001213900-23-093327.json
- Plain text: https://secwatch.observer/filing/0001213900-23-093327.txt

## Key facts
- Debt Financings
  C-Bond Systems, Inc amended convertible notes of Balloon payment of $580,090 on the 36th month with Mercer Street Global Opportunity Fund, LLC at Standstill on interest due under the Note maturing 35 monthly payments of $15,000 with a balloon payment on the 36th month.
  - Instrument: convertible notes
  - Principal: Balloon payment of $580,090 on the 36th month
  - Counterparty: Mercer Street Global Opportunity Fund, LLC
  - Rate: Standstill on interest due under the Note
  - Maturity: 35 monthly payments of $15,000 with a balloon payment on the 36th month
  - Event: amendment
  source text: into the Company’s common stock. The Company shall make the Payments on the 15th of every month. “Payments” shall mean $15,000 per month for 35 months with a balloon payment of $580,090 on the 36th month. Additionally, provided that the Company is in compliance with the Agreement, the Investor agreed to a standstill on the interest due under the Note beginning
  evidence_url: https://www.sec.gov/Archives/edgar/data/1421636/000121390023093327/0001213900-23-093327-index.htm
- Material Agreements
  C-Bond Systems, Inc amended Agreement with Mercer Street Global Opportunity Fund, LLC valued at $15,000 per month for 35 months with a balloon payment of $580,090 on the 36th month (effective 2023-12-04).
  - Action: amendment
  - Counterparty: Mercer Street Global Opportunity Fund, LLC
  - Value: $15,000 per month for 35 months with a balloon payment of $580,090 on the 36th month
  - Effective: 2023-12-04
  source text: On December 4, 2023, C-Bond Systems, Inc. (the “Company”) entered into a letter agreement (the “Agreement”) with Mercer Street Global Opportunity Fund, LLC (the “Investor”) to eliminate the convertible features and implement a standstill on the interest due under the Convertible Promissory Note Dated October 15, 2021 (the “Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1421636/000121390023093327/0001213900-23-093327-index.htm

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