{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-025969","form_type":"8-K","ticker":"SNAL","cik":"0001886894","company_name":"Snail, Inc.","filed_at":"2025-12-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.984814+00:00","generated_at":"2026-05-16T15:28:22.264721+00:00","sec_items":["2.03","1.01","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Snail, Inc. enters $1.1M convertible promissory note offering with Monroe Street Capital","bullets":["Issued a $1,100,000 convertible promissory note to Monroe Street Capital Partners at $1,000,000 purchase price (10% OID).","Note matures 12 months from November 26, 2025; interest at 5% on principal, default interest at 10% per annum.","Conversion price set at $5.00 per share of Class A common stock, with a variable price for $288,750 of the principal.","Company received stockholder approval under Nasdaq Listing Rule 5635(d) for issuance exceeding 20% of outstanding common stock.","Registration rights agreement requires filing of resale registration statement within 90 days and effectiveness within 120 days."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-025969","json":"https://secwatch.observer/filing/0001493152-25-025969.json","markdown":"https://secwatch.observer/filing/0001493152-25-025969.md","text":"https://secwatch.observer/filing/0001493152-25-025969.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1886894/000149315225025969/0001493152-25-025969-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1886894/000149315225025969/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-16T15:28:22.264721+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"157f063be9f200859b84195cfcf3fdcf04ecb1a1","claim":"Snail, Inc. incurred convertible notes of $1,000,000 with an accredited investor at 5% maturing twelve (12) months from the date of issuance.","evidence_excerpt":"the Investor agreed to purchase from the Company in a private placement offering (the “Offering”) an unsecured convertible promissory Note in the aggregate principal amount of $1,000,000 (the “Note”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1886894/000149315225025969/0001493152-25-025969-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$1,000,000"},{"label":"Counterparty","value":"an accredited investor"},{"label":"Rate","value":"5%"},{"label":"Maturity","value":"twelve (12) months from the date of issuance"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}