secwatch.observer — SEC 8-K summary
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Issuer:     Wetouch Technology Inc. (WETH)
CIK:        0001826660
Form:       8-K
Filed at:   2021-12-08T23:59:59+00:00
Accession:  0001493152-21-030861
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

Wetouch Technology issues $500K in convertible notes with warrants to two lenders
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- Issued $250K convertible notes to FirstFire Global Opportunities (Nov 16) and LGH Investments (Nov 24).
- Net proceeds of $225K per note ($450K total) after original discount; 8% interest, one-year maturity.
- Issued warrants for 200K shares each at $1.25/share; exercise price adjusts if uplist offering ≤180 days.
- Conversion price set at $0.75/share or 70% of uplist offering price if ≥$15M within 180 days.
- Registration rights granted; 10% prepayment penalty; no variable-priced securities while notes outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221030861/0001493152-21-030861-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221030861/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-030861

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