secwatch.observer — SEC 8-K summary
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Issuer:     FreeCast, Inc. (CAST)
CIK:        0001633369
Form:       8-K
Filed at:   2026-04-22T23:59:59+00:00
Accession:  0001213900-26-046296
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FreeCast enters $5M convertible note with CEO-controlled entity, converts $1.7M to equity
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- Renewal convertible note (up to $5M) with Nextelligence, controlled by CEO William Mobley, matures June 30, 2027.
- Interest at 12% p.a.; default rate 18%; prepayment allowed with 5 days notice.
- Upon execution, Nextelligence converted $1,714,052 principal into 484,354 shares at $3.51 and $4.00 per share.
- Outstanding principal after conversion is $3.4M; note replaces prior note dated Nov 21, 2025.
- Conversion price based on prior trading day's Nasdaq closing price; proportional adjustments for splits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633369/000121390026046296/0001213900-26-046296-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633369/000121390026046296/ea0287270-8k_freecast.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-046296

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