---
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"
generated_at: "2026-05-17T08:22:07.233722+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Vestand (VSTD) amends $4.4M convertible note agreement with Open Innovation Fund, sets three-tranche payment schedule

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-026609
- JSON: https://secwatch.observer/filing/0001641172-25-026609.json
- Plain text: https://secwatch.observer/filing/0001641172-25-026609.txt

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