MARIZYME, INC.: debt financing — Marizyme defaults on $1M convertible note; principal increases to $1.25M

MARIZYME, INC.

Unsecured convertible note with Walleye Opportunities Master Fund matured May 7, 2023 and was not repaid; principal automatically increased from $1,000,000 to $1,250,000.
Event of default triggered due to non-payment; note obligations subject to immediate repayment.
Company also announced IP developments: DuraGraft patents granted in US, India, South Korea, Vietnam; allowed in Canada and Vietnam.
Krillase enzyme technology and MATLOC microfluidic chip patent applications allowed in Europe.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

MARIZYME, INC. incurred convertible notes of $1,000,000 with Walleye Opportunities Master Fund Ltd at no interest maturing May 7, 2023.

Instrument: convertible notes
Principal: $1,000,000
Counterparty: Walleye Opportunities Master Fund Ltd
Rate: no interest
Maturity: May 7, 2023
Event: incurrence

Exact text from the filing

On February 6, 2023, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with Walleye Opportunities Master Fund Ltd (the “Investor”), pursuant to which the Company issued to the Investor an Unsecured Subordinated Convertible Promissory Note (the “Note”) in the aggregate principal amount of $1,000,000

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Source: SEC EDGAR

accession 0001493152-23-016067

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