secwatch.observer — SEC 8-K summary
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Issuer:     Novo Integrated Sciences, Inc. (—)
CIK:        0001138978
Form:       8-K
Filed at:   2023-09-18T23:59:59+00:00
Accession:  0001493152-23-032925
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novo Integrated Sciences enters $3.5M promissory note with Mast Hill Fund
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- Issued a 12% promissory note with $3.5M principal; $350k OID reduces net proceeds to $3.15M.
- Maturity date is September 12, 2024; note convertible into common stock at lesser of $0.45 or 91.5% of 5-day VWAP.
- Amortization payments begin Dec 12, 2023; failure allows conversion at 85% of VWAP with $0.07 floor.
- Subsidiary Acenzia Inc. guarantees repayment with security interest in assets, including Ontario property.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223032925/0001493152-23-032925-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1138978/000149315223032925/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-032925

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