secwatch.observer — SEC 8-K summary
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Issuer:     Emmaus Life Sciences, Inc. (EMMA)
CIK:        0000822370
Form:       8-K
Filed at:   2023-12-20T23:59:59+00:00
Accession:  0001213900-23-097059
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 3.02, 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/822370/000121390023097059/0001213900-23-097059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/822370/000121390023097059/ea190340-8k_emmaus.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-097059

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