secwatch.observer — SEC 8-K summary
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Issuer:     FreeCast, Inc. (CAST)
CIK:        0001633369
Form:       8-K
Filed at:   2026-03-05T23:59:59+00:00
Accession:  0001213900-26-024131
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FreeCast borrows $4.42M from CEO-controlled entity via convertible note due June 2026
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- Outstanding principal $4,424,052 as of March 5, 2026, with initial draw of $1,315,552 on Nov 21, 2025.
- Nine separate draws from Jan 23 to Mar 4, 2026 added $1,698,500.
- Note bears 12% fixed interest, convertible into Class A common at $8.00/share at lender's option.
- Maturity date June 30, 2026; default interest rate 18%.
- Lender Nextelligence is controlled by CEO William A. Mobley Jr., making this a related-party transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633369/000121390026024131/0001213900-26-024131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633369/000121390026024131/ea0280262-8k_freecast.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-024131

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