---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-009039"
form_type: "8-K"
ticker: null
cik: "0001362703"
company_name: "THERALINK TECHNOLOGIES, INC."
filed_at: "2024-03-06T23:59:59+00:00"
generated_at: "2026-06-05T02:27:17.339866+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Theralink Technologies defaults on $18M senior secured debentures; obligations accelerate

## Summary
- Company failed to pay ~$18M aggregate principal of 10% OID senior secured convertible debentures due Feb 29, 2024.
- Event of Default declared; mandatory default amount set at 130% of outstanding principal plus accrued interest and liquidated damages.
- Current total obligation under debentures is approximately $20.1 million.
- Interest rate post-default rises to the lesser of 16% per annum or maximum allowed by law.
- Debentures secured by first-priority lien on all company assets; holders may demand immediate payment in cash.

## SEC filing metadata
- accession: 0001493152-24-009039
- form_type: 8-K
- cik: 0001362703
- company_name: THERALINK TECHNOLOGIES, INC.
- filed_at: 2024-03-06T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1362703/000149315224009039/0001493152-24-009039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1362703/000149315224009039/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-009039
- JSON: https://secwatch.observer/filing/0001493152-24-009039.json
- Plain text: https://secwatch.observer/filing/0001493152-24-009039.txt

## Key facts
- Debt Financings
  THERALINK TECHNOLOGIES, INC. reported a default on convertible notes of $20.1 million with holders of the Debentures at 16% per annum maturing February 29, 2024.
  - Instrument: convertible notes
  - Principal: $20.1 million
  - Counterparty: holders of the Debentures
  - Rate: 16% per annum
  - Maturity: February 29, 2024
  - Event: default
  source text: o that certain Security Agreement, dated November 29, 2022 by and among the Company, the holders of the Debentures and Cavalry Fund I Management LLC as the Collateral Agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1362703/000149315224009039/0001493152-24-009039-index.htm

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