---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-011723"
form_type: "8-K"
ticker: "VRME"
cik: "0001104038"
company_name: "VerifyMe, Inc."
filed_at: "2023-08-28T23:59:59+00:00"
generated_at: "2026-06-11T02:48:02.541644+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# VerifyMe raises $1.1M via 8% convertible notes led by CEO and board

## Summary
- Convertible notes aggregate principal $1.1M, 8% interest, mature Aug 25, 2026.
- Conversion price $1.15 per share, equal to prior day's Nasdaq close.
- CEO Adam Stedham, Chairman Scott Greenberg, and directors lead insider participation.
- Net proceeds for general corporate purposes; notes are unsecured and subordinated.
- Notes sold in private placement exempt from registration; no redemption by company.

## SEC filing metadata
- accession: 0001214659-23-011723
- form_type: 8-K
- ticker: VRME
- cik: 0001104038
- company_name: VerifyMe, Inc.
- filed_at: 2023-08-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1104038/000121465923011723/0001214659-23-011723-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1104038/000121465923011723/o8252308k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-011723
- JSON: https://secwatch.observer/filing/0001214659-23-011723.json
- Plain text: https://secwatch.observer/filing/0001214659-23-011723.txt

## Key facts
- Debt Financings
  VerifyMe, Inc. incurred convertible notes of $1.1 million with the investors named therein at 8% per year maturing August 25, 2026.
  - Instrument: convertible notes
  - Principal: $1.1 million
  - Counterparty: the investors named therein
  - Rate: 8% per year
  - Maturity: August 25, 2026
  - Event: incurrence
  source text: On August 25, 2023, VerifyMe, Inc. (the “Company”) entered into a Convertible Note Purchase Agreement (the “Purchase Agreement”) with the investors named therein (the “Investors”) for the sale of convertible promissory notes (“Notes”) in the aggregate principal amount of $1.1 million (the “Private Placement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1104038/000121465923011723/0001214659-23-011723-index.htm

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