secwatch.observer — SEC 8-K summary
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Issuer:     Neptune Wellness Solutions Inc. (—)
CIK:        0001401395
Form:       8-K
Filed at:   2024-03-27T23:59:59+00:00
Accession:  0001437749-24-009615
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 2.04, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/0001437749-24-009615-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401395/000143774924009615/nept20240327_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-009615

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