---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-043738"
form_type: "8-K"
ticker: "NASC"
cik: "0001509957"
company_name: "Can B Corp"
filed_at: "2023-12-05T23:59:59+00:00"
generated_at: "2026-06-07T17:58:16.778914+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Can B Corp receives notice of UCC asset sale; Arena Entities declare default on $3.84M notes

## Summary
- Arena Entities intend to auction all or substantially all assets on Dec 28, 2023 under UCC Article 9.
- Defaults include failure to deliver account control agreements, servicing agreement, missing payments, unauthorized use of receivables.
- Arena Entities hold ~$3.84M convertible notes; Nascent Pharma equity (67%) excluded from sale.
- Company plans to seek forbearance; no assurance of agreement.

## SEC filing metadata
- accession: 0001493152-23-043738
- form_type: 8-K
- ticker: NASC
- cik: 0001509957
- company_name: Can B Corp
- filed_at: 2023-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1509957/000149315223043738/0001493152-23-043738-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1509957/000149315223043738/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-043738
- JSON: https://secwatch.observer/filing/0001493152-23-043738.json
- Plain text: https://secwatch.observer/filing/0001493152-23-043738.txt

## Key facts
- Debt Financings
  Can B Corp reported a default on convertible notes of approximately $3,838,770 aggregate principal amount with Arena Special Opportunities Partners I, LP, Arena Special Opportunities Fund, LP and Arena Investors, LP.
  - Instrument: convertible notes
  - Principal: approximately $3,838,770 aggregate principal amount
  - Counterparty: Arena Special Opportunities Partners I, LP, Arena Special Opportunities Fund, LP and Arena Investors, LP
  - Event: default
  source text: The Arena Entities collectively hold approximately $3,838,770 aggregate principal amount of Convertible Notes (the “Notes”) issued by the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1509957/000149315223043738/0001493152-23-043738-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.