secwatch.observer — SEC 8-K summary
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Issuer:     Wetouch Technology Inc. (WETH)
CIK:        0001826660
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0001493152-21-028690
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wetouch Technology issues $750k convertible note to Mast Hill Fund, appoints three new directors
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- Issued $750,000 convertible promissory note to Mast Hill Fund with 8% interest, due in 1 year; gross proceeds of $675,000 after original discount.
- Note convertible at $0.75 per share (or 70% of uplist offering price if uplist within 180 days); warrant to purchase 600,000 shares at $1.25 per share.
- Appointed Jing Chen, Wei Wang, and Jeff Kone as independent directors effective Nov 12, 2021, with deferred compensation tied to future uplist offering.
- Default interest rate of 16% if note not paid at maturity, and prepayment penalty of 10%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221028690/0001493152-21-028690-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221028690/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-028690

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