Novo Integrated Sciences, Inc.: debt financing — Novo Integrated Sciences issues $445K promissory note, warrant, and commitment shares to Mast Hill Fund

Novo Integrated Sciences, Inc.

Issued 12% unsecured promissory note for $445,000 principal (incl. $44,500 OID) with $400,500 net proceeds; matures June 20, 2024.
Issued warrant to buy up to 776,614 shares at $0.25 per share, exercisable for 5 years from June 20, 2023.
Issued 741,666 commitment shares as additional consideration to Mast Hill Fund.
Note convertible at $0.175 per share subject to adjustments; default triggers 125% of outstanding plus interest penalty.
Amortization payments start Dec. 20, 2023; failure to pay allows conversion at lesser of conversion price or 85% of VWAP.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Novo Integrated Sciences, Inc. incurred loan of $445,000 with Mast Hill Fund, L.P. at 12% per annum maturing June 20, 2024.

Instrument: loan
Principal: $445,000
Counterparty: Mast Hill Fund, L.P.
Rate: 12% per annum
Maturity: June 20, 2024
Event: incurrence

Exact text from the filing

On June 20, 2023, Novo Integrated Sciences, Inc., a Nevada corporation (the “Company”) entered into a securities purchase agreement (the “SPA”) with Mast Hill Fund, L.P., a Delaware limited partnership (the “Holder”), pursuant to which the Company issued an 12% unsecured promissory note (the “Note”) with a maturity date of June 20, 2024 (the “Maturity Date”), in the principal sum of $445,000 (the “Principal Sum”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Novo Integrated Sciences, Inc. entered into securities purchase agreement with Mast Hill Fund, L.P. valued at $445,000 (effective 2023-06-20).

Action: entry
Agreement: equity purchase
Counterparty: Mast Hill Fund, L.P.
Value: $445,000
Effective: 2023-06-20

Exact text from the filing

On June 20, 2023, Novo Integrated Sciences, Inc., a Nevada corporation (the “Company”) entered into a securities purchase agreement (the “SPA”) with Mast Hill Fund, L.P., a Delaware limited partnership (the “Holder”), pursuant to which the Company issued an 12% unsecured promissory note (the “Note”) with a maturity date of June 20, 2024 (the “Maturity Date”), in the principal sum of $445,000 (the “Principal Sum”).

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001493152-23-022492

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.