secwatch.observer — SEC 8-K summary
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Issuer:     Vitro Biopharma, Inc. (—)
CIK:        0000793171
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0001493152-24-015061
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vitro BioPharma issues $218,750 senior secured convertible note at 20% OID, with warrants
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- Principal amount $218,750; purchase price $175,000 (20% original issue discount).
- Interest accrues at 20% annual rate from earlier of maturity or Event of Default; payable monthly.
- Maturity date May 16, 2024, extendable to August 16, 2024 at Company's option.
- Convertible into common stock at 70% (or 60% if extended) of Liquidity Event Price (IPO/Direct Listing).
- Warrants exercisable for 5 years; exercise price based on Liquidity Event Price or $95M valuation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/793171/000149315224015061/0001493152-24-015061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/793171/000149315224015061/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015061

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer