secwatch.observer — SEC 8-K summary
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Issuer:     INTELLIGENT BIO SOLUTIONS INC. (INBS)
CIK:        0001725430
Form:       8-K
Filed at:   2022-12-22T23:59:59+00:00
Accession:  0001493152-22-036357
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 3.02, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

INBS closes $220k private placement of Series D convertible preferred and warrants
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- Gross proceeds of $220,585 from sale of 176,462 Series D convertible preferred shares and 529,386 warrants at $1.25/unit.
- Each preferred share initially convertible into 3 common shares; warrants exercisable at $0.29/share for 5 years.
- Conversion requires shareholder approval; preferred shares carry voting rights only on reverse stock split proposals.
- Insider participation: CFO Spiro Sakiris ($19,991) and Director Manuel Kostandas ($13,327) purchased 26,655 units combined.
- Proceeds to be used for general working capital; placement agent Winx Capital receives 6% fee and 26,469 warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1725430/000149315222036357/0001493152-22-036357-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1725430/000149315222036357/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-036357

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