secwatch.observer — SEC 8-K summary
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Issuer:     Emmaus Life Sciences, Inc. (EMMA)
CIK:        0000822370
Form:       8-K
Filed at:   2025-12-22T23:59:59+00:00
Accession:  0001213900-25-124513
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Emmaus Life Sciences exchanges $3M note for $600K note and 6.33M shares (9% dilution)
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/822370/000121390025124513/0001213900-25-124513-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/822370/000121390025124513/ea0270289-8k_emmaus.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-124513

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer