secwatch.observer — SEC 8-K summary
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Issuer:     PURE BIOSCIENCE, INC. (PURE)
CIK:        0001006028
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0001493152-24-037627
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pure Bioscience secures up to $3M in convertible notes; initial $500k from director Tom Y. Lee
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- Initial tranche of $500,000 convertible promissory note placed with director Tom Y. Lee (affiliates).
- Notes bear 7.88% annual interest, mature 3 years; convertible into common at VWAP floor $0.095, cap $0.175.
- Company may conduct subsequent closings up to $3.0 million aggregate principal through July 31, 2025.
- Conversion triggers include automatic conversion one year after issuance at option of majority holders, and upon corporate transactions.
- Offering is exempt from registration under Section 4(a)(2) of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006028/000149315224037627/0001493152-24-037627-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006028/000149315224037627/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-037627

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