secwatch.observer — SEC 8-K summary
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Issuer:     Lucy Scientific Discovery, Inc. (—)
CIK:        0001865127
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0001213900-23-096522
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lucy Scientific Discovery secures up to $1.8M via convertible notes and warrants
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- First tranche of $850,000 closed; aggregate principal up to $2M with $200K OID.
- Warrants issued to purchase 1.5M common shares at $0.25 per share, exercisable until Dec 2028.
- Convertible notes bear 10% interest, mature 12 months from issuance, prepayable at 110%.
- Equity interest of $450K in common shares issuable when shares become unrestricted.
- Obligations secured by all company assets; subsequent tranches up to $950K at investors' discretion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865127/000121390023096522/0001213900-23-096522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865127/000121390023096522/ea190179-8k_lucyscien.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-096522

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