secwatch.observer — SEC 8-K summary
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Issuer:     Can B Corp (NASC)
CIK:        0001509957
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0001493152-23-039279
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Can B Corp. issues $156,250 promissory note with 20% OID to Walleye Opportunities Fund
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- Can B Corp. sold a $156,250 promissory note to Walleye Opportunities Fund for $125,000, a 20% original issue discount.
- The note is non-interest bearing but accrues 18% default interest and requires 135% of principal upon default.
- Conversion price is 90% of the lowest daily VWAP over 15 trading days, with full ratchet anti-dilution protection.
- Investor may purchase up to $1,693,750 additional notes, contingent on Nascent Pharma's patent acquisition.
- Can B Corp. must register shares by Dec 11, 2023 or pay 2% monthly penalty on outstanding amounts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1509957/000149315223039279/0001493152-23-039279-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1509957/000149315223039279/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-039279

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