---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-022076"
form_type: "8-K"
ticker: "VSTD"
cik: "0001898604"
company_name: "Vestand Inc."
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:36:13.030445+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Yoshiharu Global secures $4.4M convertible note from Open Innovation Fund for real estate expansion

## Summary
- $4.4M convertible note with Open Innovation Fund; 7% annual interest, 3-year maturity, convertible at $1.10/share (floor $1.00).
- Proceeds restricted to acquisition, development, or renovation of California real estate; secured by subordinated lien on such property.
- Investor may demand repayment after 12 months; also entitled to 3% of net profit on sale of any property acquired with Note proceeds.
- Conversion shares capped at 19.99% of outstanding until shareholder approval per Nasdaq Listing Rule 5635(d).

## SEC filing metadata
- accession: 0001641172-25-022076
- form_type: 8-K
- ticker: VSTD
- cik: 0001898604
- company_name: Vestand Inc.
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898604/000164117225022076/0001641172-25-022076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898604/000164117225022076/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-022076
- JSON: https://secwatch.observer/filing/0001641172-25-022076.json
- Plain text: https://secwatch.observer/filing/0001641172-25-022076.txt

## Key facts
- Debt Financings
  Vestand Inc. incurred convertible notes of $4,400,000 with Open Innovation Fund at seven (7) percent maturing three (3) years after the issuance date.
  - Instrument: convertible notes
  - Principal: $4,400,000
  - Counterparty: Open Innovation Fund
  - Rate: seven (7) percent
  - Maturity: three (3) years after the issuance date
  - Event: incurrence
  source text: On July 29, 2025, Yoshiharu Global Co. (the “Company”) entered into a Convertible Note Subscription Agreement (the “Agreement”) with Open Innovation Fund (the “Investor”), pursuant to which the Investor agreed to invest $4,400,000 in exchange for a convertible note from the Company (the “Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898604/000164117225022076/0001641172-25-022076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.