---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-011536"
form_type: "8-K"
ticker: "PURE"
cik: "0001006028"
company_name: "PURE BIOSCIENCE, INC."
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T06:54:18.383743+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Pure Bioscience raises $500K via convertible notes from director; up to $3M total

## Summary
- Initial $500,000 private placement of convertible promissory notes to accredited investors, including board member Tom Y. Lee.
- Interest at 7.81% compounded annually; maturity 3 years from issuance.
- Conversion price tied to 30-day VWAP, with floor $0.13 and cap $0.21 per share.
- Subsequent closings allowed up to $3M aggregate principal through July 31, 2024.
- Notes convertible at holder's or company's option; automatic conversion after one year if majority holders elect.

## SEC filing metadata
- accession: 0001493152-24-011536
- form_type: 8-K
- ticker: PURE
- cik: 0001006028
- company_name: PURE BIOSCIENCE, INC.
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006028/000149315224011536/0001493152-24-011536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006028/000149315224011536/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-011536
- JSON: https://secwatch.observer/filing/0001493152-24-011536.json
- Plain text: https://secwatch.observer/filing/0001493152-24-011536.txt

## Key facts
- Debt Financings
  PURE BIOSCIENCE, INC. incurred convertible notes of $500,000 with certain accredited investors at 7.81%, compounded annually maturing the third-year anniversary of the date of issuance.
  - Instrument: convertible notes
  - Principal: $500,000
  - Counterparty: certain accredited investors
  - Rate: 7.81%, compounded annually
  - Maturity: the third-year anniversary of the date of issuance
  - Event: incurrence
  source text: On March 22, 2024, Pure Bioscience, Inc. (the “Company”) entered into a Note Purchase Agreement (the “Purchase Agreement”) with certain accredited investors (“Lenders”) pursuant to which the Company issued the Lenders convertible promissory notes (the “Notes”, collectively with the Note Purchase Agreement, the “Notes Documents”) with an aggregate principal balance of $500,000 (the “Private Placement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006028/000149315224011536/0001493152-24-011536-index.htm
- Material Agreements
  PURE BIOSCIENCE, INC. entered into Note Purchase Agreement with certain accredited investors valued at $500,000 (effective 2024-03-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain accredited investors
  - Value: $500,000
  - Effective: 2024-03-22
  source text: On March 22, 2024, Pure Bioscience, Inc. (the “Company”) entered into a Note Purchase Agreement (the “Purchase Agreement”) with certain accredited investors (“Lenders”) pursuant to which the Company issued the Lenders convertible promissory notes (the “Notes”, collectively with the Note Purchase Agreement, the “Notes Documents”) with an aggregate principal balance of $500,000 (the “Private Placement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006028/000149315224011536/0001493152-24-011536-index.htm

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