---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-016715"
form_type: "8-K"
ticker: "EMMA"
cik: "0000822370"
company_name: "Emmaus Life Sciences, Inc."
filed_at: "2024-02-26T23:59:59+00:00"
generated_at: "2026-06-05T16:08:25.850141+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Emmaus Life Sciences exchanges $9M maturing notes for new 10% notes due 2025; conversion price adjustable

## Summary
- Exchanged $9M principal of 2% convertible notes due Feb 24, 2024 for new 10% notes due Feb 24, 2025.
- Conversion price initially $0.13/share, subject to quarterly decrease to equal VWAP; no additional consideration.
- Principal and interest on new notes payable in two equal semi-annual installments.
- Note holders joined Transfer Restriction and Voting Agreement, restricting resale and voting of conversion shares.

## SEC filing metadata
- accession: 0001213900-24-016715
- form_type: 8-K
- ticker: EMMA
- cik: 0000822370
- company_name: Emmaus Life Sciences, Inc.
- filed_at: 2024-02-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/822370/000121390024016715/0001213900-24-016715-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/822370/000121390024016715/ea0200618-8k_emmaus.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-016715
- JSON: https://secwatch.observer/filing/0001213900-24-016715.json
- Plain text: https://secwatch.observer/filing/0001213900-24-016715.txt

## Key facts
- Debt Financings
  Emmaus Life Sciences, Inc. amended convertible notes of $9 million with note holders at 10% per annum, payable semi-annually maturing February 24, 2025.
  - Instrument: convertible notes
  - Principal: $9 million
  - Counterparty: note holders
  - Rate: 10% per annum, payable semi-annually
  - Maturity: February 24, 2025
  - Event: amendment
  source text: On February 21, 2024, Emmaus Life Sciences, Inc. (“we,” “us,” “our,” “Emmaus” and the “company”) entered into an Exchange Agreement pursuant to which we agree to issue $9 million principal amount of convertible promissory notes of the company due February 24, 2025 (the “Exchange Notes”) in exchange for the surrender for cancellation and satisfaction in full of a like principal amount of our outstanding convertible promissory notes due February 24, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/822370/000121390024016715/0001213900-24-016715-index.htm
- Material Agreements
  Emmaus Life Sciences, Inc. entered into Exchange Agreement with note holders valued at $9 million principal amount of convertible promissory notes (effective 2024-02-21).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: note holders
  - Value: $9 million principal amount of convertible promissory notes
  - Effective: 2024-02-21
  source text: On February 21, 2024, Emmaus Life Sciences, Inc. (“we,” “us,” “our,” “Emmaus” and the “company”) entered into an Exchange Agreement pursuant to which we agree to issue $9 million principal amount of convertible promissory notes of the company due February 24, 2025 (the “Exchange Notes”) in exchange for the surrender for cancellation and satisfaction in full of a like principal amount of our outstanding convertible promissory notes due February 24, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/822370/000121390024016715/0001213900-24-016715-index.htm

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