---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-000135"
form_type: "8-K"
ticker: null
cik: "0001781405"
company_name: "Odyssey Semiconductor Technologies, Inc."
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:24:37.029227+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Odyssey Semiconductor issues $30K secured convertible note to Chairman's trust at 10% interest

## Summary
- $30,000 secured convertible promissory note issued to trust of Chairman John Edmunds; interest 10% non-compounding.
- Due June 30, 2025, or upon conversion; interest payable in common stock at conversion price.
- Conversion price: 80% of public offering price in Financing Event (≥$5M offering or exchange listing), or 20-day VWAP if voluntary.
- Note is secured by all company assets; ranks junior only to four prior notes to same holder totaling $3.96M.
- If Corporate Transaction before conversion, note redeemed at 200% of principal plus accrued interest.

## SEC filing metadata
- accession: 0001437749-24-000135
- form_type: 8-K
- cik: 0001781405
- company_name: Odyssey Semiconductor Technologies, Inc.
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1781405/000143774924000135/0001437749-24-000135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1781405/000143774924000135/odii20240102_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-000135
- JSON: https://secwatch.observer/filing/0001437749-24-000135.json
- Plain text: https://secwatch.observer/filing/0001437749-24-000135.txt

## Key facts
- Debt Financings
  Odyssey Semiconductor Technologies, Inc. incurred convertible notes of $30,000 with Nina and John Edmunds 1998 Family Trust at ten percent (10%) per annum maturing earlier of (i) the date upon which the Promissory Note is converted into equity securities of the Company, or (ii) June 30, 2025.
  - Instrument: convertible notes
  - Principal: $30,000
  - Counterparty: Nina and John Edmunds 1998 Family Trust
  - Rate: ten percent (10%) per annum
  - Maturity: earlier of (i) the date upon which the Promissory Note is converted into equity securities of the Company, or (ii) June 30, 2025
  - Event: incurrence
  source text: On December 26, 2023, Odyssey Semiconductor Technologies, Inc. (the “Company”) issued a secured convertible promissory note in the amount of $30,000 (the “Promissory Note”) to the Nina and John Edmunds 1998 Family Trust dated January 27, 1998 (the “Edmunds Trust”), of which the Company’s Chairman, John Edmunds, is the trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1781405/000143774924000135/0001437749-24-000135-index.htm
- Material Agreements
  Odyssey Semiconductor Technologies, Inc. entered into Promissory Note with the Nina and John Edmunds 1998 Family Trust valued at $30,000 (effective 2023-12-26).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: the Nina and John Edmunds 1998 Family Trust
  - Value: $30,000
  - Effective: 2023-12-26
  source text: On December 26, 2023, Odyssey Semiconductor Technologies, Inc. (the “Company”) issued a secured convertible promissory note in the amount of $30,000 (the “Promissory Note”) to the Nina and John Edmunds 1998 Family Trust
  evidence_url: https://www.sec.gov/Archives/edgar/data/1781405/000143774924000135/0001437749-24-000135-index.htm

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