secwatch.observer — SEC 8-K summary
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Issuer:     MARIZYME, INC. (—)
CIK:        0001413754
Form:       8-K/A
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0001493152-23-025998
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 2.04, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marizyme defaults on Walleye Note; cross-default triggers $21.9M accelerated payment on convertible notes
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- Walleye Note of $1M not repaid by May 7, 2023 maturity; principal increased to $1.25M.
- Cross-default on 10% Secured Convertible Notes triggers mandatory 135% payout; aggregate $21.87M due.
- Mandatory Default Amount is ~$5.3M more than would have been due under normal terms.
- Holders have not yet exercised remedies; company faces risk of asset seizure or bankruptcy.
- Public offering registration statement withdrawn April 21, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413754/000149315223025998/0001493152-23-025998-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413754/000149315223025998/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-025998

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