secwatch.observer — SEC 8-K summary
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Issuer:     Blue Star Foods Corp. (BSFC)
CIK:        0001730773
Form:       8-K
Filed at:   2023-07-11T23:59:59+00:00
Accession:  0001493152-23-024201
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 1.02, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Star terminates $5M revolver after paying ~$108k; waives revenue target for 17,247 earnout shares
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- Terminated $5M Lighthouse revolving credit line; repaid ~$93,490 principal, ~$9,988 interest, ~$4,991 fees (total ~$108,471).
- Waived CAD$1.3M cumulative revenue condition for TOBC acquisition earnout; released 17,247 restricted shares to sellers (8,451 to Steve Atkinson, 8,796 to Janet Atkinson).
- Loan was secured by assets of subsidiaries Keeler & Co. and Coastal Pride; CEO John Keeler had personal guaranty up to $1M, now likely released.
- Additional Shares issued unregistered under Section 4(a)(2) as restricted securities; sellers hold for investment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223024201/0001493152-23-024201-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223024201/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-024201

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