Novo Integrated Sciences, Inc.: debt financing — Novo Integrated Sciences issues ~9.2M shares in Aug 2023 to settle debts and warrants; outstanding 157.6M

Novo Integrated Sciences, Inc.

Jefferson Note default triggered $186,719 liquidated damages charge; converted to 2,365,104 shares on Aug 21, 2023.
Mast Hill Fund converted $573,000 principal and interest on Mast Note for 5,227,762 shares on Aug 24, 2023.
Additional issuances: 750,000 shares for consulting, 816,000 shares via warrant exercises between July 17 and Aug 24.
Total common shares outstanding as of Aug 24, 2023: 157,593,050.
Company relied on Section 4(a)(2) and Regulation D exemptions for unregistered sales.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Novo Integrated Sciences, Inc. reported a default on convertible notes of principal amount of $937,500 with Jefferson Street Capital, LLC at 1% per annum maturing maturity date of May 17, 2022.

Instrument: convertible notes
Principal: principal amount of $937,500
Counterparty: Jefferson Street Capital, LLC
Rate: 1% per annum
Maturity: maturity date of May 17, 2022
Event: default

Exact text from the filing

Capital, LLC (“Jefferson”) a secured convertible promissory note (the “Jefferson Note”) with a maturity date of May 17, 2022 (the “Maturity Date”), in the principal amount of $937,500. The Company acted as guarantor on the Jefferson Note. Pursuant to the terms of the Jefferson Note, Terra agreed to pay to Jefferson $937,500 (the “Principal Amount”), with a

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Source: SEC EDGAR

accession 0001493152-23-030670

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