secwatch.observer — SEC 8-K summary
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Issuer:     Blue Star Foods Corp. (BSFC)
CIK:        0001730773
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0001493152-23-017881
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Star Foods enters $10M ELOC with ClearThink; issues 1.25M commitment shares
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- ClearThink agrees to buy up to $10M of Blue Star common stock at 80% of two lowest VWAPs over 6-day valuation period.
- Each draw minimum $25K, maximum lesser of $1M or 300% of 10-day avg daily trading value.
- Blue Star issues 1.25M restricted shares as commitment fee; separate SPA for 1M shares at $200K total.
- Draws prohibited until registration statement effective; beneficial ownership cap of 9.99%.
- Share issuance capped at 19.99% of pre-deal outstanding unless shareholder approval obtained.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223017881/0001493152-23-017881-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223017881/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-017881

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