secwatch.observer — SEC 8-K summary
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Issuer:     Eightco Holdings Inc. (ORBS)
CIK:        0001892492
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001493152-23-029843
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eightco Holdings subsidiary borrows $200k from director Kevin O'Donnell and Joseph Johnston
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- Forever 8 Fund subsidiary borrowed $100k each from director Kevin O'Donnell and Joseph Johnston under existing Loan and Security Agreement.
- Loans made on Aug 16-17, 2023; bear 15% annual interest; due June 30, 2024 (extendable to Sept 30, 2024).
- Each lender received a Promissory Note for the $100k principal amount.
- Aggregate facility can increase to $5M with board and Eightco board approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892492/000149315223029843/0001493152-23-029843-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892492/000149315223029843/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-029843

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer