secwatch.observer — SEC 8-K summary
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Issuer:     MANGOCEUTICALS, INC. (MGRX)
CIK:        0001938046
Form:       8-K
Filed at:   2024-04-11T23:59:59+00:00
Accession:  0001493152-24-014330
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mangoceuticals closes $500K initial tranche of Series B Preferred Stock and 3.3M warrants
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- Initial closing: $500,000 for 500 Series B shares (stated value $1,100 each, 10% discount) plus warrants for 3.3M shares at $0.26.
- Second closing of $250,000 and third closing of $750,000 subject to stockholder approval and SEC effectiveness.
- Series B Preferred: 10% cumulative dividend, convertible at lower of $0.40 or 90% of three lowest VWAPs in prior 10 days, floor $0.035.
- Warrants exercisable from Oct 4, 2024 for 5 years; cashless if no effective registration after 120 days.
- Company must hold stockholder meeting within 30 days to waive 19.99% exchange cap and increase authorized shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1938046/000149315224014330/0001493152-24-014330-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1938046/000149315224014330/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-014330

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