---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-020145"
form_type: "8-K"
ticker: "ORBS"
cik: "0001892492"
company_name: "Eightco Holdings Inc."
filed_at: "2023-06-05T23:59:59+00:00"
generated_at: "2026-06-14T07:40:02.924089+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Eightco subsidiary enters $1.925M loan at 15% interest, exchanges $1.65M old notes

## Summary
- Forever 8 Fund LLC borrowed $1,925,000 as initial advance under Loan and Security Agreement dated May 30, 2023.
- Loan bears 15% per annum interest, matures June 30, 2024 (extendable to Sept 30, 2024); unused commitment fee is 5% per annum.
- Debt Exchange Agreement exchanged $1,650,000 of old secured promissory notes for new notes under the same loan terms.
- Collateral includes inventory, equipment, and machinery purchased with loan proceeds.
- Default interest rate increases to 20% (15% plus 5%) upon event of default.

## SEC filing metadata
- accession: 0001493152-23-020145
- form_type: 8-K
- ticker: ORBS
- cik: 0001892492
- company_name: Eightco Holdings Inc.
- filed_at: 2023-06-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1892492/000149315223020145/0001493152-23-020145-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1892492/000149315223020145/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-020145
- JSON: https://secwatch.observer/filing/0001493152-23-020145.json
- Plain text: https://secwatch.observer/filing/0001493152-23-020145.txt

## Key facts
- Debt Financings
  Eightco Holdings Inc. incurred revolving credit of $1,925,000 at 15.00% per annum.
  - Instrument: revolving credit
  - Principal: $1,925,000
  - Rate: 15.00% per annum
  - Event: incurrence
  source text: As of June 1, 2023, $1,925,000 has been advanced by the Lenders. The Borrower issued a Promissory Note (the “Note”) to each of the Lenders in the amount of the Lender’s respective Initial Loan Advance. The principal balance of the Initial Loan Advance and each Subsequent Draw shall bear interest thereon from the Closing Date and applicable Advance Date, respectively, at 15.00% per annum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1892492/000149315223020145/0001493152-23-020145-index.htm
- Debt Financings
  Eightco Holdings Inc. incurred senior notes of $1,650,000.
  - Instrument: senior notes
  - Principal: $1,650,000
  - Event: incurrence
  source text: On May 30, 2023, the Borrower entered into a Debt Exchange Agreement (the “Debt Agreement”) with two Lenders for funds advanced to the Borrower pursuant to secured promissory notes (the “Old Notes”), executed by the Borrower in favor of the Lenders during 2021. Under the terms of the Debt Agreement, the Old Notes shall be exchanged for new Notes (“New Notes”) as per the terms of the Loan and Security Agreement dated May 30, 2023. The principal of the New Notes issued under the Debt Agreement is $1,650,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1892492/000149315223020145/0001493152-23-020145-index.htm
- Material Agreements
  Eightco Holdings Inc. entered into Debt Exchange Agreement with two Lenders valued at $1,650,000 (effective 2023-05-30).
  - Action: entry
  - Counterparty: two Lenders
  - Value: $1,650,000
  - Effective: 2023-05-30
  source text: In addition, on May 30, 2023, the Borrower entered into a Debt Exchange Agreement (the “Debt Agreement”) with two Lenders for funds advanced to the Borrower pursuant to secured promissory notes (the “Old Notes”), executed by the Borrower in favor of the Lenders during 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1892492/000149315223020145/0001493152-23-020145-index.htm
- Material Agreements
  Eightco Holdings Inc. entered into Loan and Security Agreement with several individuals, financial institutions and entities (collectively, the "Lenders") (effective 2023-05-30).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: several individuals, financial institutions and entities (collectively, the "Lenders")
  - Effective: 2023-05-30
  source text: On May 30, 2023, the Company’s wholly owned subsidiary, Forever 8 Fund, LLC (the “Borrower”), entered into a Loan and Security Agreement (the “Agreement”) with several individuals, financial institutions and entities (collectively, the “Lenders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1892492/000149315223020145/0001493152-23-020145-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.