secwatch.observer — SEC 8-K summary
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Issuer:     TREES Corp (Colorado) (CANN)
CIK:        0001477009
Form:       8-K
Filed at:   2024-11-15T23:59:59+00:00
Accession:  0001213900-24-099084
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trees Corp. issues $1.25M 12% senior secured note, grants 2.5M warrants
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- $1.25M senior secured note from TCM Tactical Opportunities Fund II at 12% interest, maturing Sept 15, 2026.
- 2.5M warrants granted at 1.25x 10-day avg OTCQB price, expiring Nov 15, 2029.
- Exercise price of 6.5M existing warrants repriced to same level; expiration extended to Nov 15, 2029.
- Paid $802,500 to Headgate III to fully satisfy asset purchase agreement; lease confession of judgment terminated.
- Note has liquidation preference of 1.5x principal; ranks senior to prior notes except pari passu with two specific notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477009/000121390024099084/0001213900-24-099084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477009/000121390024099084/ea0220693-8k_treescorp.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-099084

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