---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-097059"
form_type: "8-K"
ticker: "EMMA"
cik: "0000822370"
company_name: "Emmaus Life Sciences, Inc."
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T10:16:26.447646+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Emmaus exchanges $2.2M in director-held notes for 8.2M shares at $0.29/share

## Summary
- Exchanged $1M note from Zen for 3,760,983 shares and $1.2M note from Lim for 4,447,426 shares.
- Deemed per-share value of $0.29 represents a premium to Dec 14, 2023 OTCQX closing price.
- Zen's note was convertible at $0.50/share, due on demand after Jan 24, 2024; Lim's note due Sep 16, 2025.
- Total principal of $2.2M plus accrued interest canceled; no additional cash consideration paid.
- Issuance exempt under Section 3(a)(9); directors Zen and Lim are the sole noteholders.

## SEC filing metadata
- accession: 0001213900-23-097059
- form_type: 8-K
- ticker: EMMA
- cik: 0000822370
- company_name: Emmaus Life Sciences, Inc.
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.02, 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/822370/000121390023097059/0001213900-23-097059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/822370/000121390023097059/ea190340-8k_emmaus.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-097059
- JSON: https://secwatch.observer/filing/0001213900-23-097059.json
- Plain text: https://secwatch.observer/filing/0001213900-23-097059.txt

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