---
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"
generated_at: "2026-05-12T10:21:51.762018+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Functional Brands reduces Series C conversion price to $0.1636; waives below-price prohibition

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-054617
- JSON: https://secwatch.observer/filing/0001213900-26-054617.json
- Plain text: https://secwatch.observer/filing/0001213900-26-054617.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Counterparty: holders of the Company's Series C Convertible Preferred Stock
  - Value: Conversion price reduced to $0.1636 per share; unpaid Cash Consideration under Exchange and Amendmen
  - Effective: 2026-05-11
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1837254/000121390026054617/0001213900-26-054617-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.