Bantec, Inc.: debt financing — Bantec restructures $142,668 debt with Matterhorn Partners via convertible note

Bantec, Inc.

Consented to assignment of $142,668.49 debt from Frondeur to Matterhorn; issued amended restated convertible note.
Note bears 12% interest, matures Dec 18, 2025; convertible at 70% of market price (30% discount).
Conversion limited to 9.99% beneficial ownership; monthly cap of $40,000 per 30-day period until maturity or default.
Amends/restates eight prior notes from Oct 2022–May 2023 (each $15,000 principal) plus accrued interest.
If conversion shares not delivered within 3 business days, company pays $2,000/day late fee.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bantec, Inc. incurred convertible notes of $142,668.49 with Matterhorn Partners LLC.

Instrument: convertible notes
Principal: $142,668.49
Counterparty: Matterhorn Partners LLC
Event: incurrence

Exact text from the filing

the Company exchanged the Notes and issued an amended and restated convertible promissory note to Matterhorn in the principal amount of $142,668.49

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Source: SEC EDGAR

accession 0001437749-25-008330

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