secwatch.observer — SEC 8-K summary
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Issuer:     IMPACT BIOMEDICAL INC. (IBO)
CIK:        0001834105
Form:       8-K
Filed at:   2024-01-22T23:59:59+00:00
Accession:  0001493152-24-003318
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Impact BioMedical amends $12.86M promissory note with DSS; extends maturity to 2030
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- Funded principal balance increased to $12,859,328.60, including $1.23M in interest advances.
- Maturity extended to September 30, 2030; repayment in 60 monthly payments starting February 2024.
- Interest rate set at WSJ Prime + 0.50% (initially 9%); note is secured by blanket first lien on all assets.
- DSS, Inc., the majority shareholder of Impact, is the lender; no advance features remain under the note.
- Financial covenants require Impact to maintain positive net worth and limit additional indebtedness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1834105/000149315224003318/0001493152-24-003318-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1834105/000149315224003318/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-003318

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