secwatch.observer — SEC 8-K summary
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Issuer:     CV Sciences, Inc. (CVSI)
CIK:        0001510964
Form:       8-K
Filed at:   2022-05-24T23:59:59+00:00
Accession:  0001510964-22-000045
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CV Sciences defaults on $1.06M convertible note; enters forbearance until June 1, 2022
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- Failed to pay $130K principal plus interest on May 17, 2022 maturity date, triggering default.
- Default interest rate of 15% per annum applied; investor can demand redemption at 115% of face value.
- Forbearance agreement signed May 18, 2022; investor agrees not to exercise remedies through June 1, 2022 or earlier trigger events.
- Company must pay aggregate principal at redemption premium plus all accrued interest and fees after forbearance period.
- All other terms of the original note and securities purchase agreement remain in effect.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510964/000151096422000045/0001510964-22-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510964/000151096422000045/cvsi-20220518.htm
  HTML page:      https://secwatch.observer/filing/0001510964-22-000045

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