secwatch.observer — SEC 8-K summary
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Issuer:     OFF THE HOOK YS INC. (OTH)
CIK:        0002067767
Form:       8-K
Filed at:   2026-08-18T21:00:15+00:00
Accession:  0001493152-26-039033
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextBoat secures $510K convertible loan from Greentree with 10% OID
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- $510,000 principal, 10% OID, net proceeds ~$459,000 after $10k legal fee.
- 10% interest, matures Aug 14, 2028; converts at $1.785/share with reset.
- Warrant for 100,000 shares at $1.785, 3-year term, down-round protection.
- 20,000 commitment shares issued; prepayment allowed with 15 days notice.
- Qualified financing of $5M+ triggers repayment of note upon lender request.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2067767/000149315226039033/0001493152-26-039033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2067767/000149315226039033/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-039033

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