secwatch.observer — SEC 8-K summary
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Issuer:     iCoreConnect Inc. (—)
CIK:        0001906133
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001477932-24-000941
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iCoreConnect raises up to $2.375M via convertible notes; first tranche $1.375M at 10% OID
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- Initial closing of $1,375,000 principal notes yields $1,250,000 gross proceeds (10% OID).
- Notes convertible at $1.848/share; conversion price subject to weighted-average anti-dilution.
- Company issued 85,174 commitment shares to investors at initial closing.
- Second tranche of up to $1,100,000 principal available subject to registration and shareholder approval.
- Notes mature 12 months; monthly amortization payments begin at six months; default rate 16%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1906133/000147793224000941/0001477932-24-000941-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1906133/000147793224000941/icct_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-000941

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