{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-026609","form_type":"8-K","ticker":"VSTD","cik":"0001898604","company_name":"Vestand Inc.","filed_at":"2025-09-04T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.544981+00:00","generated_at":"2026-05-17T08:22:07.233722+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Vestand (VSTD) amends $4.4M convertible note agreement with Open Innovation Fund, sets three-tranche payment schedule","bullets":["First tranche $2.9M due Sept 11; second $750k due Sept 30; third $750k due Oct 15, 2025.","Note bears 7% interest, 3-year maturity, convertible at $1.10/share (post 1:4 reverse split) with monthly refix floor of $1.00.","Proceeds restricted to California real estate; collateral is second-priority lien on acquired property; total debt secured ≤60% of acquisition cost.","Investor conversion capped at 9.99% beneficial ownership; Nasdaq 20% rule may require shareholder approval for conversions exceeding 19.99% of outstanding shares.","Note includes 3% net profit sharing on sale of acquired real property and early redemption put option after 12 months."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-026609","json":"https://secwatch.observer/filing/0001641172-25-026609.json","markdown":"https://secwatch.observer/filing/0001641172-25-026609.md","text":"https://secwatch.observer/filing/0001641172-25-026609.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1898604/000164117225026609/0001641172-25-026609-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1898604/000164117225026609/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T08:22:07.233722+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}