secwatch.observer — SEC 8-K summary
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Issuer:     Regen BioPharma Inc (RGBP)
CIK:        0001589150
Form:       8-K
Filed at:   2024-09-13T23:59:59+00:00
Accession:  0001493152-24-036161
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Regen Biopharma issues $250K promissory note to Coventry; $25K OID, convertible on default
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- Principal amount $250K; original issue discount $25K, net proceeds $200K.
- 10% annual interest; ten monthly payments of $27,500 starting Nov 4, 2024, due Sept 4, 2025.
- Upon event of default, note converts to common stock at 90% of lowest 20-day trading price before conversion.
- Company issued 500K commitment shares; 350K to be returned to treasury if no default occurs.
- $152K of proceeds used to repay existing principal and interest to Coventry from a prior note.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589150/000149315224036161/0001493152-24-036161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589150/000149315224036161/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-036161

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