secwatch.observer — SEC 8-K summary
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Issuer:     Eightco Holdings Inc. (ORBS)
CIK:        0001892492
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001493152-24-050898
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eightco restructures Forever 8 debt: $10.3M new debt, extends $7.2M, converts $1.6M interest to shares
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- Converted $1.6M accrued interest on Seller Notes into 485,381 shares at $3.23/share; payments deferred to Oct 2025.
- Raised $10.3M incremental debt from new/existing lenders; repaid $950K of old loans.
- New Series A debt: $2.75M, 15% interest, matures June 30, 2025 (extendable to Sept 30).
- New Series C debt: $11M, 15% interest, matures June 30, 2025 (senior to Series A).
- Debt restructuring extended $7.2M of existing obligations; funds earmarked for e-commerce inventory growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892492/000149315224050898/0001493152-24-050898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892492/000149315224050898/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-050898

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