secwatch.observer — SEC 8-K summary
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Issuer:     Maison Solutions Inc. (MSS)
CIK:        0001892292
Form:       8-K
Filed at:   2024-10-25T23:59:59+00:00
Accession:  0001213900-24-090815
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Maison Solutions amends senior secured note; interest rate raised to 10%, tightens default triggers
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- Principal amount ~$15.2M with ~$10.0M outstanding after missed payments; $40k restructuring fee paid to holders.
- Interest rate increased to 10% per annum (from prior rate) and default rate set at 14% per annum.
- New Events of Default: failure to execute committed LOI for >$10M financing by Dec 2, 2024, or MSS delisting from Nasdaq.
- Weekly payment schedule established starting Oct 14, 2024; missed $1.5M Sep 8 payment partially cured with $200k paid.
- Issuer and guarantors irrevocably waive all defenses related to unauthorized Conversion, Merger, and Division of Lee Lee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892292/000121390024090815/0001213900-24-090815-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892292/000121390024090815/ea0218636-8k_maison.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-090815

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