secwatch.observer — SEC 8-K summary
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Issuer:     Vitro Biopharma, Inc. (—)
CIK:        0000793171
Form:       8-K
Filed at:   2023-11-22T23:59:59+00:00
Accession:  0001493152-23-042449
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vitro BioPharma raises $2M via convertible note with 20% OID, warrants, and consulting deal
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- Issued $2.5M principal senior secured convertible note for $2M cash (20% OID); 20% annual interest, matures May 16, 2024 (extendable to Aug 16).
- Warrants to purchase common stock, exercisable for 5 years; exercise price based on liquidity event or $95M valuation if no event.
- Engaged Alchemy Advisory for 6-month consulting; paid $50K cash, $50K upon IPO/direct listing, and 20K shares (or $300K worth if IPO <$15).
- Note secured by all company assets; conversion price equals 70% of liquidity event price (60% if extended) or $95M/fully-diluted shares.
- Registration rights agreement filed to register resale of conversion and warrant shares within 30 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/793171/000149315223042449/0001493152-23-042449-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/793171/000149315223042449/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-042449

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