secwatch.observer — SEC 8-K summary
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Issuer:     Blue Star Foods Corp. (BSFC)
CIK:        0001730773
Form:       8-K
Filed at:   2023-05-31T23:59:59+00:00
Accession:  0001493152-23-019561
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

Blue Star Foods issues $1.2M secured convertible note to Lind Global for $1M working capital
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- Issued $1.2M senior secured interest-free convertible note; funding amount $1M after $50k fee.
- Conversion price is lower of $0.12 or 90% of lowest 20-day VWAP; capped at 4.99% ownership.
- Warrant issued for 8,700,696 shares at $0.1227/share, 5-year term, cashless exercise, full ratchet anti-dilution.
- Proceeds for general working capital; negative covenants restrict distributions, borrowing, asset sales, loans.
- Company must file resale registration statement within 90 days of closing; failure triggers default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223019561/0001493152-23-019561-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223019561/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-019561

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