Can B Corp (NASC): debt financing — Can B Corp. completes $75K convertible note sale to ClearThink at 33% discount

Can B Corp

Sold $75,000 promissory note for $50,000 purchase price, a 33.33% original issue discount.
Note matures November 29, 2024, bears 12% annual interest payable at maturity.
ClearThink may convert principal and accrued interest at $0.0772 per share.
Proceeds used for general working capital; prior notes of $200K, $15K, and $37.5K issued to same lender.
Financing structure indicates continued reliance on high-cost convertible debt.

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

Can B Corp incurred convertible notes of $75,000 with ClearThink Capital Partners, LLC at 12% per annum maturing November 29, 2024.

Instrument: convertible notes
Principal: $75,000
Counterparty: ClearThink Capital Partners, LLC
Rate: 12% per annum
Maturity: November 29, 2024
Event: incurrence

Exact text from the filing

On February 29, 2024, Can B Corp. (the "Company") completed the sale of a promissory note in the principal amount of $75,000 to ClearThink Capital Partners, LLC ("ClearThink").

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Can B Corp filing history →

Source: SEC EDGAR

accession 0001493152-24-010749

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