secwatch.observer — SEC 8-K summary
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Issuer:     Rainmaker Worldwide Inc. (RAKR)
CIK:        0001872292
Form:       8-K
Filed at:   2022-08-01T23:59:59+00:00
Accession:  0001493152-22-020888
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rainmaker Worldwide issues $35K convertible note at 35% discount to market price
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- Principal $35,000, 10% annual interest, matures July 26, 2023.
- Variable conversion price equals 65% of lowest trading price over prior 10 trading days (35% discount).
- Company may prepay within first 180 days at escalating premiums.
- Note issued under Stock Purchase Agreement; unregistered sale under Rule 506(b).
- Interest rate rises to 24% upon default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1872292/000149315222020888/0001493152-22-020888-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1872292/000149315222020888/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-020888

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