secwatch.observer — SEC 8-K summary
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Issuer:     THERALINK TECHNOLOGIES, INC. (—)
CIK:        0001362703
Form:       8-K
Filed at:   2024-03-06T23:59:59+00:00
Accession:  0001493152-24-009039
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 2.04
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1362703/000149315224009039/0001493152-24-009039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1362703/000149315224009039/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-009039

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