secwatch.observer — SEC 8-K summary
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Issuer:     Neuraxis, INC (NRXS)
CIK:        0001933567
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001493152-24-011761
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neuraxis increases Flagstaff financing to $5M, replaces preferred with convertible note
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- Amendment raises Flagstaff investment from $3M to $5M via convertible promissory note.
- Note carries 8.5% interest, matures in 15 months, convertible into Series B Preferred at $2.38/share.
- Company has received $400,000 to date; 13 additional monthly installments scheduled through March 2025.
- Conversion contingent on stockholder approval of Series B Preferred authorization, targeted by Sept 30, 2024.
- Proceeds restricted to working capital and general corporate purposes; no dividends or affiliate payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224011761/0001493152-24-011761-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1933567/000149315224011761/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-011761

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