8-K
filed December 22, 2025, 6:59 PM ET
ticker EMMA
CIK 0000822370
other material
confidence high
sentiment neutral
materiality 0.75
Emmaus Life Sciences, Inc. (EMMA): debt financing — Emmaus Life Sciences exchanges $3M note for $600K note and 6.33M shares (9% dilution)
Emmaus Life Sciences, Inc.
- Exchanged $3M convertible note (10% interest, conversion $0.13) for $600K new note (10%, conversion $0.01 adjustable) and 6,332,692 shares valued at ~$0.38 each.
- The 6.33M common shares represent 9.0% of total outstanding shares post-issuance.
- New note is due on demand; conversion price adjusts quarterly based on average VWAP.
- Issued under Section 3(a)(9) exemption with no additional consideration.
- Holder Dong Seon Kim releases all claims under the old note.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Emmaus Life Sciences, Inc. incurred convertible notes of $600,000 at 10% maturing due on demand.
- Instrument
- convertible notes
- Principal
- $600,000
- Rate
- 10%
- Maturity
- due on demand
- Event
- incurrence
Exact text from the filing
On December 17, 2025, Emmaus Life Sciences, Inc. (“we,” “us,” “our,” “Emmaus” and the “company”) entered into an Exchange Agreement dated as of the same day pursuant to which we agreed to issue to a single individual 6,332,692 shares of common stock of the company valued for this purpose at approximately $0.38 per share (the “Exchange Shares”) and a convertible promissory note in the principal amount of $600,000 (the “Exchange Note” and together with the Exchange Shares, the “Exchange Securities”) in exchange for the surrender for cancellation and satisfaction of the principal amount of an outstanding convertible promissory note currently due and payable in the principal amount of $3,000,000 (the “Subject Note”). The Subject Note bore interest at the annual rate of 10%, payable semi-annually, and was convertible at the election of the holder into shares of our common stock at the conversion price of $0.13 per share. The Exchange Note will bear interest at the annual rate of 10%, payabl
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Emmaus Life Sciences, Inc. issued convertible promissory note, principal $600,000 of convertible note to a single individual for surrender for cancellation of $3,000,000 convertible promissory note.
- Security
- convertible note
- Shares
- convertible promissory note, principal $600,000
- Purchaser
- a single individual
- Consideration
- surrender for cancellation of $3,000,000 convertible promissory note
Exact text from the filing
On December 17, 2025, Emmaus Life Sciences, Inc. (“we,” “us,” “our,” “Emmaus” and the “company”) entered into an Exchange Agreement dated as of the same day pursuant to which we agreed to issue to a single individual 6,332,692 shares of common stock of the company valued for this purpose at approximately $0.38 per share (the “Exchange Shares”) and a convertible promissory note in the principal amount of $600,000 (the “Exchange Note” and together with the Exchange Shares, the “Exchange Securities”) in exchange for the surrender for cancellation and satisfaction of the principal amount of an outstanding convertible promissory note currently due and payable in the principal amount of $3,000,000 (the “Subject Note”).
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Emmaus Life Sciences, Inc. issued 6,332,692 shares of common stock to a single individual for surrender for cancellation of $3,000,000 convertible promissory note.
- Security
- common stock
- Shares
- 6,332,692 shares
- Purchaser
- a single individual
- Consideration
- surrender for cancellation of $3,000,000 convertible promissory note
Exact text from the filing
On December 17, 2025, Emmaus Life Sciences, Inc. (“we,” “us,” “our,” “Emmaus” and the “company”) entered into an Exchange Agreement dated as of the same day pursuant to which we agreed to issue to a single individual 6,332,692 shares of common stock of the company valued for this purpose at approximately $0.38 per share (the “Exchange Shares”) and a convertible promissory note in the principal amount of $600,000 (the “Exchange Note” and together with the Exchange Shares, the “Exchange Securities”) in exchange for the surrender for cancellation and satisfaction of the principal amount of an outstanding convertible promissory note currently due and payable in the principal amount of $3,000,000 (the “Subject Note”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
Emmaus Life Sciences, Inc. entered into Exchange Agreement and Exchange Note with a single individual valued at Issued 6,332,692 shares of common stock valued at approx. $0.38 per share and a convertible promisso (effective 2025-12-17).
- Action
- entry
- Counterparty
- a single individual
- Value
- Issued 6,332,692 shares of common stock valued at approx. $0.38 per share and a convertible promisso
- Effective
- 2025-12-17
Exact text from the filing
On December 17, 2025, Emmaus Life Sciences, Inc. ("we," "us," "our," "Emmaus" and the "company") entered into an Exchange Agreement dated as of the same day pursuant to which we agreed to issue to a single individual 6,332,692 shares of common stock of the company valued for this purpose at approximately $0.38 per share (the "Exchange Shares") and a convertible promissory note in the principal amount of $600,000 (the "Exchange Note" and together with the Exchange Shares, the "Exchange Securities") in exchange for the surrender for cancellation and satisfaction of the principal amount of an outstanding convertible promissory note currently due and payable in the principal amount of $3,000,000 (the "Subject Note")
View on SEC.gov
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