secwatch.observer — SEC 8-K summary
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Issuer:     Clearday, Inc. (—)
CIK:        0000895665
Form:       8-K
Filed at:   2024-04-05T23:59:59+00:00
Accession:  0001493152-24-013381
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 1.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearday subsidiary MCA Naples files Chapter 11; Company secures $1.46M note from Mast Hill Fund
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- MCA Naples, LLC filed Chapter 11 on April 3, 2024 in Florida; subsidiary owns care community and net-leased property.
- Clearday entered $1.558M note with Mast Hill Fund, net proceeds ~$264K after retiring ~$1.175M mortgage and property taxes.
- Note bears 16% interest, matures 12 months, convertible at $0.82/share with full ratchet anti-dilution.
- Two warrants issued: 405,298 shares (5-year term) and 1,688,741 shares (cancelled if Note repaid by March 2025).
- Clearday not obligor on Naples debt; believes assets exceed mortgage debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/895665/000149315224013381/0001493152-24-013381-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/895665/000149315224013381/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-013381

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