---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-002730"
form_type: "8-K/A"
ticker: "USBC"
cik: "0001074828"
company_name: "USBC, Inc."
filed_at: "2024-03-06T23:59:59+00:00"
generated_at: "2026-06-05T02:20:35.926934+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Know Labs corrects warrant count to 6M shares in $14.4M convertible note facility with Lind

## Summary
- Initial $4.8M senior convertible note (0% interest) for $4M purchase price; conversion at $1.00/share.
- Warrants to purchase up to 6M shares at $0.80/share; cashless exercise allowed if registration ineffective.
- Monthly payments start 120 days after issuance: greater of 5% principal or $240k; paid in cash, stock, or both.
- Placement agent Benchmark receives $200k cash fee and 102,302 unregistered shares.
- Notes secured by first-priority lien on all assets; subsidiary Particle guarantees obligations.

## SEC filing metadata
- accession: 0001654954-24-002730
- form_type: 8-K/A
- ticker: USBC
- cik: 0001074828
- company_name: USBC, Inc.
- filed_at: 2024-03-06T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1074828/000165495424002730/0001654954-24-002730-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074828/000165495424002730/knwn_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-002730
- JSON: https://secwatch.observer/filing/0001654954-24-002730.json
- Plain text: https://secwatch.observer/filing/0001654954-24-002730.txt

## Key facts
- Debt Financings
  USBC, Inc. incurred convertible notes of $4,800,000 with Lind Global Fund II, LP at Notes do not carry any interest.
  - Instrument: convertible notes
  - Principal: $4,800,000
  - Counterparty: Lind Global Fund II, LP
  - Rate: Notes do not carry any interest
  - Event: incurrence
  source text: issued to Lind an initial Note with an outstanding principal amount of Four Million Eight Hundred Thousand Dollars ($4,800,000) in exchange for a purchase price of Four Million Dollars ($4,000,000)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1074828/000165495424002730/0001654954-24-002730-index.htm
- Material Agreements
  USBC, Inc. entered into Securities Purchase Agreement with Lind Global Fund II, LP valued at $14,400,000 (effective 2024-02-27).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Lind Global Fund II, LP
  - Value: $14,400,000
  - Effective: 2024-02-27
  source text: On February 27, 2024, Know Labs, Inc. (the “Company”) (a) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with Lind Global Fund II, LP (“Lind”), pursuant to which the Company may issue Lind one or more senior convertible notes (the “Notes”) in the aggregate principal amount of up to Fourteen Million Four Hundred Thousand Dollars ($14,400,000)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1074828/000165495424002730/0001654954-24-002730-index.htm

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