secwatch.observer — SEC 8-K summary
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Issuer:     ProPhase Labs, Inc. (PRPH)
CIK:        0000868278
Form:       8-K
Filed at:   2026-08-06T21:00:22+00:00
Accession:  0001493152-26-036383
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ProPhase Labs enters $2.085M convertible loan with J.J. Astor; net proceeds $1.02M
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- Loan principal $2,085,000; funding $1,500,000; net proceeds $1,020,000 after fees and reserves.
- Senior secured convertible note; conversion after 12 months at $0.075/share or 90% of 10-day VWAP if on Nasdaq.
- CEO Ted Karkus personally guarantees payment under Affiliate Guaranty Agreement.
- Loan supports subsidiaries' Chapter 11 bankruptcy plan of reorganization (Case No. 25-19833 CMG).
- Weekly installment payments; default increases principal to 110% and accrues 19% default interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/868278/000149315226036383/0001493152-26-036383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/868278/000149315226036383/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-036383

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