secwatch.observer — SEC 8-K summary
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Issuer:     9 METERS BIOPHARMA, INC. (—)
CIK:        0001551986
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001551986-23-000028
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

9 Meters Biopharma enters forbearance on convertible note; pays $3.1M partial acceleration after Nasdaq default
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- Partial acceleration of $3.1M paid to High Trail; outstanding principal reduced to ~$2.29M.
- Forbearance period ends May 16, 2023, or earlier if Nasdaq delisting or other default occurs.
- Restricted reserve account increased to $1.6M; default interest rate of 18% applied.
- Company must deliver Nasdaq compliance plan by May 15, 2023.
- Noteholder retains all remedies after forbearance terminates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1551986/000155198623000028/0001551986-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1551986/000155198623000028/nmtr-20230426.htm
  HTML page:      https://secwatch.observer/filing/0001551986-23-000028

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