secwatch.observer — SEC 8-K summary
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Issuer:     PANACEA LIFE SCIENCES HOLDINGS, INC. (PLSH)
CIK:        0001552189
Form:       8-K
Filed at:   2023-07-10T23:59:59+00:00
Accession:  0001493152-23-024087
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Panacea Life Sciences to acquire eight Nitro Kava stores in Tampa for convertible preferred shares
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- Acquisition of 8 retail locations, distribution facilities, warehouse in Tampa area for 84,548 Series E convertible preferred shares.
- Each preferred share convertible into 100 common shares after 180 days; sellers subject to 2-year lock-up with volume limits.
- Acquired business generated $2.9M unaudited revenue in FY 2022; purchase price adjustable if closing monthly revenue <$175k.
- Closing expected by Aug 31, 2023, subject to delivery of audited financials and other customary conditions.
- Company also announced diversification into kratom, kava, functional mushrooms, and psychedelic research.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1552189/000149315223024087/0001493152-23-024087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1552189/000149315223024087/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-024087

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