{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-009615","form_type":"8-K","ticker":null,"cik":"0001401395","company_name":"Neptune Wellness Solutions Inc.","filed_at":"2024-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.062818+00:00","generated_at":"2026-06-04T07:03:26.686769+00:00","sec_items":["2.04","5.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Neptune subsidiary Sprout receives default notice on $13M note; appoints acting general counsel","bullets":["Sprout Foods, a Neptune subsidiary, received Notice of Default from NH Expansion Credit Fund Holdings LP on $13.0M principal plus $3.9M accrued interest.","Default triggered by cross-default on other debt >$250K, insolvency, and material adverse change in Sprout's business.","Additional interest accrues at default rate; ~$94K through March 31, 2024.","Christopher Piazza appointed Acting General Counsel; previously Deputy General Counsel since 2019."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-009615","json":"https://secwatch.observer/filing/0001437749-24-009615.json","markdown":"https://secwatch.observer/filing/0001437749-24-009615.md","text":"https://secwatch.observer/filing/0001437749-24-009615.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/0001437749-24-009615-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/nept20240327_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T07:03:26.686769+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"da34222cb5b7c2d639aaf9f1e50af201bf0af0c4","claim":"Neptune Wellness Solutions Inc. reported a default on loan of $13.0 million with NH Expansion Credit Fund Holdings LP at default rate.","evidence_excerpt":"(financial or otherwise) of Sprout or a material impairment of the prospect of repayment of any portion of the Note. As of the date of the Notice, Sprout had outstanding $13.0 million of principal under the Note, along with $3.9 million of interest through March 21, 2024 and additional interest accruing at the default rate following the date of the notice,","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/0001437749-24-009615-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$13.0 million"},{"label":"Counterparty","value":"NH Expansion Credit Fund Holdings LP"},{"label":"Rate","value":"default rate"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"},{"claim_id":"cdcba9ae63","claim":"Christopher Piazza was appointed as Acting General Counsel at Neptune Wellness Solutions Inc..","evidence_excerpt":"On March 27, 2024, the Company appointed Christopher Piazza as Acting General Counsel.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/0001437749-24-009615-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Acting General Counsel"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}