{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-014722","form_type":"8-K","ticker":"LUDG","cik":"0001960262","company_name":"LUDWIG ENTERPRISES, INC.","filed_at":"2026-02-11T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.885083+00:00","generated_at":"2026-05-16T03:23:53.438606+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Ludwig Enterprises closes $200K convertible note and warrant placement with Alumni Capital LP","bullets":["Issued $250K convertible promissory note to Alumni Capital LP; maturity May 4, 2026; net proceeds $200K after original issue discount.","Note convertible at 70% of lowest 20-day VWAP before conversion; warrant for up to 4,166,667 shares at $0.06 per share.","Securities sold under Section 4(a)(2) and Regulation D; unregistered; no commissions paid.","Conversion price set at deep discount to market; terms imply significant dilution upon conversion or warrant exercise.","Proceeds likely used for general working capital; short maturity indicates urgent financing need."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-014722","json":"https://secwatch.observer/filing/0001213900-26-014722.json","markdown":"https://secwatch.observer/filing/0001213900-26-014722.md","text":"https://secwatch.observer/filing/0001213900-26-014722.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1960262/000121390026014722/0001213900-26-014722-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1960262/000121390026014722/ea0276571-8k_ludwig.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T03:23:53.438606+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f776709e3b29709d0bd3f06b8467bef6a307b0f0","claim":"LUDWIG ENTERPRISES, INC. incurred convertible notes of $250,000 with Alumni Capital LP maturing May 4, 2026.","evidence_excerpt":"the Company issued the Note to the Investor, creating a direct financial obligation of the Company. The Note has an original principal amount of $250,000 and matures on May 4, 2026.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1960262/000121390026014722/0001213900-26-014722-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$250,000"},{"label":"Counterparty","value":"Alumni Capital LP"},{"label":"Maturity","value":"May 4, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3e863c93590742b0265fe0e650236bcbc0435680","claim":"LUDWIG ENTERPRISES, INC. issued 4,166,667 shares of Common Stock of warrant to Alumni Capital LP for exercise price of $0.06 per share.","evidence_excerpt":"The Warrant is exercisable for up to 4,166,667 shares of Common Stock at an exercise price of $0.06 per share.","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1960262/000121390026014722/0001213900-26-014722-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"warrant"},{"label":"Shares","value":"4,166,667 shares of Common Stock"},{"label":"Purchaser","value":"Alumni Capital LP"},{"label":"Consideration","value":"exercise price of $0.06 per share"}],"fact_type":"equity_issuance"},{"claim_id":"f83580f0495a7429985616d0a186c9fb416216c1","claim":"LUDWIG ENTERPRISES, INC. issued convertible note to Alumni Capital LP for $250,000 original principal amount.","evidence_excerpt":"the Company issued to the Investor (i) a convertible promissory note in the original principal amount of $250,000 (the \"Note\") and (ii) a common stock purchase warrant","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1960262/000121390026014722/0001213900-26-014722-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"convertible note"},{"label":"Purchaser","value":"Alumni Capital LP"},{"label":"Consideration","value":"$250,000 original principal amount"}],"fact_type":"equity_issuance"},{"claim_id":"a6c0cf11ccf55ef3f9479a003e510e155ea7f0fc","claim":"LUDWIG ENTERPRISES, INC. entered into Securities Purchase Agreement with Alumni Capital LP valued at $250,000 (effective 2026-02-05).","evidence_excerpt":"On February 5, 2026 (the “Subscription Date”), Ludwig Enterprises, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Alumni Capital LP (the “Investor”) pursuant to which, among other things, the Company issued to the Investor (i) a convertible promissory note in the original principal amount of $250,000","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1960262/000121390026014722/0001213900-26-014722-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Alumni Capital LP"},{"label":"Value","value":"$250,000"},{"label":"Effective","value":"2026-02-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}