secwatch.observer — SEC 8-K summary
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Issuer:     CV Sciences, Inc. (CVSI)
CIK:        0001510964
Form:       8-K
Filed at:   2022-04-01T23:59:59+00:00
Accession:  0001510964-22-000023
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CV Sciences raises $700K via convertible preferred and warrants; seeks reverse split up to 1:400
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- Issued 700 shares of convertible preferred ($1,000 stated value) convertible into 10M shares at $0.07/sh, plus warrants for 10M shares at $0.10/sh.
- Gross proceeds $700K; placement agent fees 7.5% plus 1.0% management fee and warrants for 750K shares at $0.0875.
- To seek shareholder approval to increase authorized common from 190M to 790M and reverse stock split between 1:10 and 1:400.
- Preferred stock has 170,000 votes per share only on the proposals; no other voting rights; dividends on as-converted basis.
- Closing occurred March 31, 2022; warrants exercisable after shareholder approval, expire 3 years later; anti-dilution and reset provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510964/000151096422000023/0001510964-22-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510964/000151096422000023/cvsi-20220330.htm
  HTML page:      https://secwatch.observer/filing/0001510964-22-000023

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