secwatch.observer — SEC 8-K summary
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Issuer:     REMARK HOLDINGS, INC. (—)
CIK:        0001368365
Form:       8-K
Filed at:   2023-03-16T23:59:59+00:00
Accession:  0001368365-23-000016
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Remark Holdings raises $2.5M via convertible debentures, restructures Mudrick loan
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- Issued two convertible subordinated debentures to Ionic Ventures; aggregate purchase price $2.5M, principal $2.778M, 10% interest.
- Conversion price is lower of 80% of VWAP floor or $1.40 fixed, subject to full ratchet anti-dilution; floor at $0.20.
- Entered note purchase agreement with Mudrick Capital; new notes at 20.5% interest, due Oct 31, 2023, $750K extension fee added to principal.
- Debentures auto-convert upon registration effectiveness or after 181 days; registration rights require filing within 15 days of 10-K.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1368365/000136836523000016/0001368365-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1368365/000136836523000016/mark-20230314.htm
  HTML page:      https://secwatch.observer/filing/0001368365-23-000016

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