{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-054617","form_type":"8-K","ticker":"MEHA","cik":"0001837254","company_name":"Functional Brands Inc.","filed_at":"2026-05-11T21:45:59+00:00","discovered_at":"2026-05-12T10:05:00.387910+00:00","generated_at":"2026-05-12T10:21:51.762018+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Functional Brands reduces Series C conversion price to $0.1636; waives below-price prohibition","bullets":["Conversion price for Series C Preferred reduced to $0.1636/share, replacing tiered structure.","Below-price conversion prohibition waived during Fixed Conversion Period for all holders.","Company must file Certificate amendment within 3 business days; failure triggers Event of Default.","Unpaid Cash Consideration added as unsecured principal to existing senior secured convertible notes.","Add-Back Principal convertible at 100% of prior day's market price; no collateral or guarantee."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054617","json":"https://secwatch.observer/filing/0001213900-26-054617.json","markdown":"https://secwatch.observer/filing/0001213900-26-054617.md","text":"https://secwatch.observer/filing/0001213900-26-054617.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1837254/000121390026054617/0001213900-26-054617-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1837254/000121390026054617/ea0290213-8k_functional.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-12T10:21:51.762018+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":"bd2825b2537b65f4d8096e56d59f82365e221fbe","claim":"Functional Brands Inc. entered into Conversion Price Reduction and Waiver Agreement with holders of the Company's Series C Convertible Preferred Stock valued at Conversion price reduced to $0.1636 per share; unpaid Cash Consideration under Exchange and Amendmen (effective 2026-05-11).","evidence_excerpt":"On May 11, 2026, Functional Brands Inc. (the “Company”) entered into a Conversion Price Reduction and Waiver Agreement (the “Agreement”) with all of the holders of the Company’s Series C Convertible Preferred Stock.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1837254/000121390026054617/0001213900-26-054617-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"holders of the Company's Series C Convertible Preferred Stock"},{"label":"Value","value":"Conversion price reduced to $0.1636 per share; unpaid Cash Consideration under Exchange and Amendmen"},{"label":"Effective","value":"2026-05-11"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}