secwatch.observer — SEC 8-K summary
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Issuer:     Novo Integrated Sciences, Inc. (—)
CIK:        0001138978
Form:       8-K
Filed at:   2023-06-26T23:59:59+00:00
Accession:  0001493152-23-022492
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novo Integrated Sciences issues $445K promissory note, warrant, and commitment shares to Mast Hill Fund
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223022492/0001493152-23-022492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223022492/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-022492

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