secwatch.observer — SEC 8-K summary
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Issuer:     Vestand Inc. (VSTD)
CIK:        0001898604
Form:       8-K
Filed at:   2025-01-13T23:59:59+00:00
Accession:  0001493152-25-001968
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yoshiharu Global enters $10M ELOC and $1.1M convertible note with Crom Fund
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- ELOC: Company may sell up to $10M of common stock at 93% of lowest 5-day VWAP; term ends Jan 2027.
- Convertible note: $1.1M principal (10% OID), $1M purchase price; convertible at lesser of $5 or 90% of lowest 5-day VWAP.
- Note matures Jan 2026; default triggers 115% penalty plus interest up to 18%.
- Commitment fee of 31,948 shares paid to investor; registration must be filed within 30 days, effective within 90 days.
- Proceeds from ELOC must be applied up to 30% to repay note at investor's option.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898604/000149315225001968/0001493152-25-001968-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898604/000149315225001968/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-001968

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