secwatch.observer — SEC 8-K summary
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Issuer:     Stewards, Inc. (SWRD)
CIK:        0001795851
Form:       8-K
Filed at:   2026-07-30T14:36:14+00:00
Accession:  0001663577-26-000236
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stewards, Inc. closes $69M senior loan, $10M mezzanine, $5M convertible note, and $25M HOPCo note
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- Senior loan of $69M at Term SOFR + 3.50% (reducing to 3.00%) matures Aug 2028 with three one-year extension options.
- Mezzanine loan of $10M at Term SOFR + 12.00% (floor 14.50%) matures Aug 2028, secured by 100% of mortgage borrower interests.
- $5M secured convertible notes at 15% interest, 180-day maturity, convertible at $3.00/share, with warrants for 1,666,665 shares at $3.00.
- HOPCo convertible note up to $25M (initial $5M funded) at 8% PIK, matures 2031, converts to Class A2 units if no equity closing by Oct 31, 2026.
- Proceeds used for HOPCo acquisition payments and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795851/000166357726000236/0001663577-26-000236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795851/000166357726000236/swrd_8k07272026.htm
  HTML page:      https://secwatch.observer/filing/0001663577-26-000236

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