secwatch.observer — SEC 8-K summary
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Issuer:     Eightco Holdings Inc. (ORBS)
CIK:        0001892492
Form:       8-K
Filed at:   2023-03-16T23:59:59+00:00
Accession:  0001493152-23-007844
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cryptyde raises $5M via senior secured convertible note and warrants; conversion price $0.1249
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- Issued $5,555,000 senior secured convertible note (purchase price $5M) convertible at $0.1249/share; matures Jan 15, 2024; 18% interest on default.
- Issued warrant to purchase 44,475,581 shares at $0.1249/share; 5-year term; cashless exercise option.
- Placement agent receives $400,000 cash and warrant for 3,558,047 shares.
- Closing requires stockholder approval to increase authorized shares and amendment to existing subordination agreement.
- Note ranks senior to all other debt; covenants restrict additional debt, dividends, and share repurchases.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892492/000149315223007844/0001493152-23-007844-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892492/000149315223007844/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-007844

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