secwatch.observer — SEC 8-K summary
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Issuer:     Functional Brands Inc. (MEHA)
CIK:        0001837254
Form:       8-K
Filed at:   2026-03-13T23:59:59+00:00
Accession:  0001213900-26-027715
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Functional Brands exchanges Series A/B pref for $6M Series C, notes, cash, stock
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- Exchange of Series A (80% of stated value) and Series B (100%) for aggregate $8.378M assigned value.
- Consideration: $6.032M Series C convertible at $0.30/$0.35/$0.41 per share, $900K cash, $837.8K 12% secured notes, 5.19M common shares.
- Notes mature in 17 months, 12% interest, convertible at 120% of closing price on exchange date; company granted blanket security interest.
- Series C carries no dividends unless default; company may repurchase at stated value; holders capped at 4.99% beneficial ownership.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837254/000121390026027715/0001213900-26-027715-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837254/000121390026027715/ea0281274-8k_functional.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-027715

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