secwatch.observer — SEC 8-K summary
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Issuer:     International Land Alliance Inc. (ILAL)
CIK:        0001657214
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001493152-23-039944
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

International Land Alliance issues Series D convertible preferred to exchange $1.7M+ debt
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- Enters securities purchase agreement with Six-Twenty Capital to exchange over $1,700,000 in outstanding loans for Series D Convertible Preferred Stock.
- Series D has stated value of $100, cumulative cash dividends at 12% per annum plus additional 8% in common stock dividends.
- Conversion allowed 18 months after issuance; price is lower of qualified offering price or 80% of 10-day VWAP.
- Up to 20,000 Series D shares authorized; mandatory partial redemption at 110% of stated value.
- Series D ranks senior to all stock except Series C preferred; exempt from registration under Rule 506.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1657214/000149315223039944/0001493152-23-039944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1657214/000149315223039944/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-039944

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