secwatch.observer — SEC 8-K summary
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Issuer:     Odyssey Semiconductor Technologies, Inc. (—)
CIK:        0001781405
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001437749-24-004849
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Odyssey Semiconductor issues $315k secured convertible notes to Chairman's trust at 10% interest
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- $190k note on Feb 13 and $125k note on Feb 14 issued to Nina and John Edmunds 1998 Family Trust, chaired by John Edmunds.
- 10% non-compounding interest payable in common stock; maturity June 30, 2025.
- Conversion at 80% of public offering price in a $5M+ IPO or exchange listing, or at average 20-day closing price otherwise.
- Notes secured by all company assets; rank senior to all debt except prior notes to same holder totaling >$4M.
- Interest paid in shares at conversion price; upon Corporate Transaction, holder receives 200% of principal plus interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924004849/0001437749-24-004849-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924004849/odii20240220_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-004849

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