secwatch.observer — SEC 8-K summary
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Issuer:     Wetouch Technology Inc. (WETH)
CIK:        0001826660
Form:       8-K
Filed at:   2021-12-15T23:59:59+00:00
Accession:  0001493152-21-031591
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 $750k convertible notes and warrants to three lenders
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- Each of three lenders receives a $250,000 convertible note; total principal $750,000; gross proceeds $675,000 after original discount.
- Notes bear 8% interest, mature in one year; default interest rate rises to 16%.
- Lenders get three-year warrants to purchase 200,000 shares each at $1.25 per share; conversion and exercise prices adjustable upon an Uplist Offering.
- Conversion price defaults to $0.75 per share if no Uplist Offering within 180 days; prepayment triggers 10% penalty.
- Craft Capital Management LLC received an $18,000 fee per note; securities issued under Section 4(a)(2) and Rule 506(b).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221031591/0001493152-21-031591-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826660/000149315221031591/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-031591

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