---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-007141"
form_type: "8-K"
ticker: "NASC"
cik: "0001509957"
company_name: "Can B Corp"
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T06:54:41.794882+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Can B Corp. issues $1.82M OID note, grant warrants; forbearance on $3.88M past-due notes

## Summary
- Note principal $1,823,529 sold at $1,550,000 (15% OID); nine monthly installments of $232,500 starting April 27, 2023.
- Warrant to purchase 1,307,190 shares at 90% of 5-day VWAP; exercisable Aug 27, 2023 to Aug 27, 2028.
- Forbearance agreement with Arena on ~$3.877M past-due notes; forbearance until Dec 31, 2024; monthly receivable remittance to $5.7M.
- Registration rights agreement: SEC filing due April 13, 2023 for shares from note/warrant; failure triggers 2% monthly penalty.
- Multiple note amendments extend maturities to Sept 1, 2023; one exchange consolidates $852K notes into $937K note.

## SEC filing metadata
- accession: 0001493152-23-007141
- form_type: 8-K
- ticker: NASC
- cik: 0001509957
- company_name: Can B Corp
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1509957/000149315223007141/0001493152-23-007141-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1509957/000149315223007141/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-007141
- JSON: https://secwatch.observer/filing/0001493152-23-007141.json
- Plain text: https://secwatch.observer/filing/0001493152-23-007141.txt

## Key facts
- Debt Financings
  Can B Corp incurred loan of $1,823,529 principal amount (purchase price $1,550,000 with 15% original issue discount) with Investor at Non-interest bearing; default interest at 18% per annum maturing Payable in nine monthly installments of $232,500 commencing April 27, 2023, final payment approximately January 2024.
  - Instrument: loan
  - Principal: $1,823,529 principal amount (purchase price $1,550,000 with 15% original issue discount)
  - Counterparty: Investor
  - Rate: Non-interest bearing; default interest at 18% per annum
  - Maturity: Payable in nine monthly installments of $232,500 commencing April 27, 2023, final payment approximately January 2024
  - Event: incurrence
  source text: On March 2, 2023, Can B Corp., a Florida corporation (the “Company”), completed the sale of a promissory note (the “Note”) in the principal amount of $1,823,529 to an investor (the “Investor”) pursuant to a Securities Purchase Agreement dated as of February 27, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509957/000149315223007141/0001493152-23-007141-index.htm
- Debt Financings
  Can B Corp amended loan of Aggregate principal amount of $852,000 with Arena Special Opportunities Partners I, L.P. at Not specified in excerpt maturing Original maturities between August 24, 2022 and April 12, 2023; exchanged for a single note maturing September 1, 2023.
  - Instrument: loan
  - Principal: Aggregate principal amount of $852,000
  - Counterparty: Arena Special Opportunities Partners I, L.P.
  - Rate: Not specified in excerpt
  - Maturity: Original maturities between August 24, 2022 and April 12, 2023; exchanged for a single note maturing September 1, 2023
  - Event: amendment
  source text: Notes . Contemporaneous with the sale of the Note and Warrant to the Investor, Arena Special Opportunities Partners I, L.P. and Arena otes in the aggregate principal amount of $852,000 having maturity dates between August 24, 2022 and April 12, 2023 agreed to exchange the notes for a single note that matures on September 1, 2023. ITEM 2.03. CREATION OFA DIRECT
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509957/000149315223007141/0001493152-23-007141-index.htm
- Material Agreements
  Can B Corp entered into Securities Purchase Agreement with Investor valued at $1,823,529 principal amount; $1,550,000 purchase price with 15% original issue discount (effective 2023-02-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Investor
  - Value: $1,823,529 principal amount; $1,550,000 purchase price with 15% original issue discount
  - Effective: 2023-02-27
  source text: On March 2, 2023, Can B Corp., a Florida corporation (the “Company”), completed the sale of a promissory note (the “Note”) in the principal amount of $1,823,529 to an investor (the “Investor”) pursuant to a Securities Purchase Agreement dated as of February 27, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509957/000149315223007141/0001493152-23-007141-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.