secwatch.observer — SEC 8-K summary
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Issuer:     Odyssey Semiconductor Technologies, Inc. (—)
CIK:        0001781405
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001437749-24-012395
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 $190K secured convertible note to Chairman's trust at 10% interest
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- $190,000 secured convertible promissory note issued to Edmunds Trust, where Chairman John Edmunds is trustee.
- Note bears 10% non-compounding interest, payable in common stock at the conversion price.
- Conversion price: 80% of public offering price if ≥$5M offering, or average of last 20 trading days' closing price.
- Upon a Corporate Transaction, note redeemed at 200% of principal plus accrued interest.
- Matures June 30, 2025, or earlier upon conversion or a Financing Event.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924012395/0001437749-24-012395-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781405/000143774924012395/odii20240418_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-012395

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