---
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"
generated_at: "2026-06-04T07:03:26.686769+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Neptune subsidiary Sprout receives default notice on $13M note; appoints acting general counsel

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-24-009615
- form_type: 8-K
- cik: 0001401395
- company_name: Neptune Wellness Solutions Inc.
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.04, 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-009615
- JSON: https://secwatch.observer/filing/0001437749-24-009615.json
- Plain text: https://secwatch.observer/filing/0001437749-24-009615.txt

## Key facts
- Debt Financings
  Neptune Wellness Solutions Inc. reported a default on loan of $13.0 million with NH Expansion Credit Fund Holdings LP at default rate.
  - Instrument: loan
  - Principal: $13.0 million
  - Counterparty: NH Expansion Credit Fund Holdings LP
  - Rate: default rate
  - Event: default
  source text: (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_url: https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/0001437749-24-009615-index.htm
- Executive change
  Christopher Piazza was appointed as Acting General Counsel at Neptune Wellness Solutions Inc..
  - Action: appointed
  - Role: Acting General Counsel
  source text: On March 27, 2024, the Company appointed Christopher Piazza as Acting General Counsel.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/0001437749-24-009615-index.htm

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