secwatch.observer — SEC 8-K summary
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Issuer:     Novo Integrated Sciences, Inc. (—)
CIK:        0001138978
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001493152-23-013775
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novo Integrated Sciences issues $70M unsecured promissory note, receives $57M lump sum
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- Issued 15-year unsecured promissory note with principal sum of $70,000,000 to SCP Tourbillion Monaco via RC Consulting Group LLC.
- Company receives $57,000,000 lump sum; note bears non-compounding yield of 1.52% (zero coupon) per annum, matures April 2038.
- Note is non-dilutive: no conversion, no warrants, no share issuance; ranks pari passu with unsecured debt.
- If the company enters into a Section 3(a)(10) transaction while note outstanding, a 25% liquidated damages charge applies.
- CEO cites patient, non-dilutive capital to accelerate business model implementation and growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223013775/0001493152-23-013775-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223013775/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-013775

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