secwatch.observer — SEC 8-K summary
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Issuer:     Odyssey Semiconductor Technologies, Inc. (—)
CIK:        0001781405
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001437749-24-007716
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Odyssey Semiconductor issues $434K in secured convertible notes to Chairman's trust
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- Two secured convertible promissory notes totaling $434,000 issued to Nina and John Edmunds 1998 Family Trust (Chairman John Edmunds is trustee).
- Notes bear 10% annual interest payable in common stock; mature June 30, 2025; secured by all company assets.
- Conversion price at 80% of a future financing event price or 20-day VWAP; notes rank senior to all debt except earlier insider notes.
- Prior insider notes total over $3M (to chairman, CEO, and others); new notes include most-favored-nation clause.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924007716/0001437749-24-007716-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924007716/odii20240313d_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-007716

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer