--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-23-021288" form_type: "8-K" ticker: null cik: "0001444307" company_name: "ONCOSEC MEDICAL Inc" filed_at: "2023-06-14T23:59:59+00:00" generated_at: "2026-06-14T01:07:19.076659+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # OncoSec Medical files Chapter 7 bankruptcy; board and CEO resign; $2M note accelerated ## Summary - Company filed voluntary Chapter 7 petition on June 14, 2023, in New Jersey Bankruptcy Court. - Chapter 7 trustee will be appointed to liquidate assets and administer the bankruptcy estate. - Subsidiary OncoSec Medical Australia Pty Ltd expects to wind down via creditors' voluntary liquidation. - Filing triggered default under $2M convertible note with Grand Decade Developments, accelerating principal and interest. - Entire 7-member board resigned and CEO Robert Arch resigned immediately after filing; no officers remain. ## SEC filing metadata - accession: 0001493152-23-021288 - form_type: 8-K - cik: 0001444307 - company_name: ONCOSEC MEDICAL Inc - filed_at: 2023-06-14T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.03, 2.04, 5.02 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-23-021288 - JSON: https://secwatch.observer/filing/0001493152-23-021288.json - Plain text: https://secwatch.observer/filing/0001493152-23-021288.txt ## Key facts - Debt Financings ONCOSEC MEDICAL Inc faced acceleration on convertible notes of $2,000,000 with Grand Decade Developments Limited. - Instrument: convertible notes - Principal: $2,000,000 - Counterparty: Grand Decade Developments Limited - Event: acceleration source text: the Petition filing with the Bankruptcy Court on June 14, 2023, constituted an event of default under the Convertible Promissory Note and Security Agreement, dated November 25, 2022 (the “Note”), by and between the Company and Grand Decade Developments Limited, a British Virgin Islands limited company and a wholly owned subsidiary of Grand Pharmaceutical Group Limited (“GDDL”), which event of default resulted in the acceleration of the outstanding principal amount of $2,000,000 and all interest accrued to date under the Note evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Distress & Bankruptcy ONCOSEC MEDICAL Inc entered chapter 7 in United States Bankruptcy Court for the District of New Jersey (petition 2023-06-14). - Proceeding: chapter 7 - Court: United States Bankruptcy Court for the District of New Jersey - Petition: 2023-06-14 source text: OncoSec Medical Incorporated, a Nevada corporation (the “Company”), filed a voluntary petition for relief (the “Petition”) under the provisions of Chapter 7 of Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (the “Code”) in the United States Bankruptcy Court for the District of New Jersey (the “Bankruptcy Court”) on June 14, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Kevin Smith resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Chao Zhou resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Linda Shi resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Stephany Foster resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Joon Kim resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change H. Kim Lyerly resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Robert Arch resigned as President and Chief Executive Officer at ONCOSEC MEDICAL Inc. - Action: resigned - Role: President and Chief Executive Officer source text: In addition to his resignation from the Company’s Board of Directors, Dr. Arch tendered his resignation as the Company’s President and Chief Executive Officer effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm - Executive change Robert Arch resigned as Member of the Board of Directors at ONCOSEC MEDICAL Inc. - Action: resigned - Role: Member of the Board of Directors source text: Dr. Linda Shi, Dr. Robert Arch, Stephany Foster, Joon Kim, Dr. H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations as members of the Company’s Board of Directors which resignations were effective on June 14, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1444307/000149315223021288/0001493152-23-021288-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.