secwatch.observer — SEC 8-K summary
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Issuer:     Novo Integrated Sciences, Inc. (—)
CIK:        0001138978
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001493152-23-009020
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novo Integrated Sciences issues $573K unsecured note and warrants to FirstFire Global
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- Issued 12% unsecured promissory note for $573K principal ($515.7K net after $57.3K OID) due March 21, 2024.
- Issued warrant to purchase up to 1M shares at $0.25/share for five years; note convertible at $0.175/share.
- Issued 955,000 restricted commitment shares as additional consideration for the financing.
- Amortization payments begin Sept 21, 2023; default triggers 125% penalty and 16% default interest.
- Total share issuance limited to 10M shares unless shareholder approval is obtained.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223009020/0001493152-23-009020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223009020/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-009020

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