secwatch.observer — SEC 8-K summary
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Issuer:     Stemtech Corp (STEK)
CIK:        0001511820
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001683168-23-002027
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stemtech secures up to $7M convertible note facility, initial $1M drawn to retire merchant cash advance
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- Institutional investor Leviston Resources provides up to $7M via convertible note with 12% OID and 7% interest.
- Initial $1M disbursement used to fully pay off a standing Merchant Cash Agreement; balance for product development.
- Note carries 100% warrant coverage and company has redemption right at 125% of face value.
- Investor agrees to no short-selling or hedging of company common stock during term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1511820/000168316823002027/0001683168-23-002027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1511820/000168316823002027/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-002027

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer