secwatch.observer — SEC 8-K summary
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Issuer:     BIOTRICITY INC. (BTCY)
CIK:        0001630113
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001493152-23-018125
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Biotricity raises ~$1.22M net through convertible notes with 15% interest and warrants
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- Raised $1,218,930 net proceeds from $1,387,700 principal amount convertible notes at 15% interest, maturing one year from final closing.
- Notes convertible after 6 months at lower of 75% of 5-day VWAP or 80% of next qualified financing price.
- Investors received 4-year warrants exercisable at 200% of VWAP; exercise price adjusts if stock sold below.
- Shareholder approval obtained March 31, 2023, per Nasdaq rules for potential >20% issuance.
- Paulson Investment Company acted as placement agent with 10% cash fee and 8% warrant coverage plus $25K expense.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1630113/000149315223018125/0001493152-23-018125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1630113/000149315223018125/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-018125

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