Eightco Holdings Inc. (ORBS): debt financing — Eightco subsidiary Forever 8 Fund closes $2M Series C and $50K Series B advances, subordination agreement executed

Eightco Holdings Inc.

Forever 8 Fund received $50,000 advance under Series B from a subsequent lender on October 24, 2023.
Between October 25 and November 22, 2023, five lenders advanced $2,000,000 total under the Series C loan agreement.
Series B lenders subordinated their debt, security interests, and payment rights to the Series C lenders via a Subordination Agreement.
The Subordination Agreement restricts any payment or enforcement on Series B until all Series C senior debt (including interest, premiums) is fully repaid.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Eightco Holdings Inc. incurred loan of $2,000,000.

Instrument: loan
Principal: $2,000,000
Event: incurrence

Exact text from the filing

The Subsequent Lenders advanced the Borrower a total of $2,000,000 in loan advances under the Series C Agreement.

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Source: SEC EDGAR

accession 0001493152-23-043733

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