secwatch.observer — SEC 8-K summary
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Issuer:     Can B Corp (NASC)
CIK:        0001509957
Form:       8-K
Filed at:   2022-04-29T23:59:59+00:00
Accession:  0001493152-22-011459
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Can B Corp. issues $150K convertible note with warrants; extends Arena notes with $300K payment
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- Issued $150K principal note (12% interest, convertible at $4.00) and warrants for 23,437 shares at $6.40, net proceeds $135K after 10% OID.
- Amended Arena notes: extended maturity to April 30, 2022, waived defaults, agreed to pay $300K upon S-1 effectiveness.
- Company will pay all interest due on 2020 notes in stock and 2021 notes in cash at closing of S-1.
- Option to further extend Arena notes up to 2 months at $100K per month.
- Note includes anti-dilution, most-favored-nation provisions, and 10% prepayment penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1509957/000149315222011459/0001493152-22-011459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1509957/000149315222011459/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-011459

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