secwatch.observer — SEC 8-K summary
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Issuer:     NextPlat Corp (NXPL)
CIK:        0001058307
Form:       8-K
Filed at:   2022-11-18T23:59:59+00:00
Accession:  0001493152-22-032818
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextPlat enters agreement to purchase up to $10M in convertible debentures from Progressive Care
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- NextPlat may purchase up to $10M of secured convertible debentures from Progressive Care (OTCQB: RXMD) over three years at its sole discretion.
- Minimum purchase per notice is $1M; proceeds held in controlled account until approved by NextPlat's board.
- Debentures convertible into Progressive Care common at $0.03/share, bear 5% interest, mature in three years.
- Progressive Care can prepay at 110% of principal plus interest; NextPlat may convert before prepayment.
- NextPlat obtains first-priority security interest in all assets of Progressive Care and its subsidiaries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058307/000149315222032818/0001493152-22-032818-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058307/000149315222032818/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-032818

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