secwatch.observer — SEC 8-K summary
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Issuer:     Wetouch Technology Inc. (WETH)
CIK:        0001826660
Form:       8-K
Filed at:   2021-11-05T23:59:59+00:00
Accession:  0001493152-21-027404
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wetouch Technology issues $250K convertible note with warrant to Talos Victory Fund
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- Issued $250K convertible promissory note at 8% interest, due in one year; received $225K gross proceeds after original discount.
- Lender received 200,000-share warrant exercisable at $1.25/share, adjustable based on future uplist offering price.
- Conversion price initially $0.75/share, but may be 70% of uplist offering price if uplist occurs within 180 days.
- Registration rights granted to file resale registration by Dec 26, 2021 for shares underlying note and warrant.
- Craft Capital Management received $18,000 fee in connection with the placement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221027404/0001493152-21-027404-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221027404/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-027404

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