secwatch.observer — SEC 8-K summary
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Issuer:     PANACEA LIFE SCIENCES HOLDINGS, INC. (PLSH)
CIK:        0001552189
Form:       8-K
Filed at:   2023-10-05T23:59:59+00:00
Accession:  0001493152-23-036315
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.01, 3.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Panacea Life Sciences acquires 8 Nitro Kava retail stores for 78,530 Series N-7 Preferred shares
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- Acquired 8 Nitro Kava retail stores and a distribution center in Tampa, FL from N7 Enterprises sellers.
- Consideration: 78,530 shares of newly authorized Series N-7 Preferred (stated value $100/share, convertible 100:1 to common after 180 days).
- N7 generated ~$2.6M revenue in FY2022 (unaudited); stores to be rebranded as PanaceaDistro with expansion and franchising plans.
- Additional agreements: 6-month consulting with Gary Wilder at $20K/month, leakout restrictions on share sales, offset rights for acquisition expenses.
- Series N-7 Preferred is senior to common but junior to existing preferred and debt, with no voting rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1552189/000149315223036315/0001493152-23-036315-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1552189/000149315223036315/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-036315

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