---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-008329"
form_type: "8-K"
ticker: null
cik: "0001704795"
company_name: "Bantec, Inc."
filed_at: "2025-03-19T23:59:59+00:00"
generated_at: "2026-05-24T11:54:05.728351+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Bantec issues $625K convertible note to Matterhorn after Trillium assignment

## Summary
- Trillium assigned Bantec debt ($276,444.95) and Series C Preferred ($348,555.05) to Matterhorn.
- Issued amended restated convertible promissory note for $625,000 principal, due Dec 18, 2025.
- Note has 12% interest (22% default rate), convertible at 70% of market price with $80,000 monthly cap.
- Conversion limited to 9.99% beneficial ownership; holder cannot waive this restriction.
- Note is secured by receivables and collection account under prior advance agreement.

## SEC filing metadata
- accession: 0001437749-25-008329
- form_type: 8-K
- cik: 0001704795
- company_name: Bantec, Inc.
- filed_at: 2025-03-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1704795/000143774925008329/0001437749-25-008329-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1704795/000143774925008329/bant20250319_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-008329
- JSON: https://secwatch.observer/filing/0001437749-25-008329.json
- Plain text: https://secwatch.observer/filing/0001437749-25-008329.txt

## Key facts
- Debt Financings
  Bantec, Inc. amended convertible notes of $625,000 with Matterhorn Partners LLC.
  - Instrument: convertible notes
  - Principal: $625,000
  - Counterparty: Matterhorn Partners LLC
  - Event: amendment
  source text: the Company exchanged the Note and the Preferred Shares and issued an amended and restated convertible promissory note to Matterhorn in the principal amount of $625,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1704795/000143774925008329/0001437749-25-008329-index.htm

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