secwatch.observer — SEC 8-K summary
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Issuer:     FreeCast, Inc. (CAST)
CIK:        0001633369
Form:       8-K
Filed at:   2026-03-23T23:59:59+00:00
Accession:  0001213900-26-032839
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FreeCast draws additional $265K under related party convertible note; total $4.69M outstanding
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- Revolving convertible note with Nextelligence (controlled by CEO William Mobley) has $5M principal cap; entered Nov 21, 2025.
- Three separate draws of $265K total from Mar 11-19, 2026; outstanding principal $4,689,052 as of Mar 23.
- Conversion price $8.00 per share, interest rate 12% p.a., maturity June 30, 2026.
- Note convertible at Nextelligence's option; prepayment allowed with five days written notice.
- Default interest rate increases to 18% p.a. upon breach or bankruptcy events.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633369/000121390026032839/0001213900-26-032839-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633369/000121390026032839/ea0283030-8k_freecast.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-032839

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