---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-006858"
form_type: "8-K"
ticker: null
cik: "0001829966"
company_name: "EBET, Inc."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:30:15.210739+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# EBET enacts 1:30 reverse split, extends debt forbearance to June 2025 at 16.5% interest, adds conversion options

## Summary
- Reverse stock split approved at 1:30 ratio, reducing shares from ~448.2M to ~14.9M; effective Sept 29, 2023.
- Forbearance on $26.38M loan extended to June 30, 2025; interest rate raised to 16.5% per annum and added to principal.
- Revolving loan facility increased to $4.0M from $2.0M, with similar 16.5% interest and optional capitalization.
- Lender granted right to convert up to $5M of debt at $1.25/share and remaining at $2.50/share, with registration rights.

## SEC filing metadata
- accession: 0001683168-23-006858
- form_type: 8-K
- cik: 0001829966
- company_name: EBET, Inc.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829966/000168316823006858/0001683168-23-006858-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829966/000168316823006858/ebet_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-006858
- JSON: https://secwatch.observer/filing/0001683168-23-006858.json
- Plain text: https://secwatch.observer/filing/0001683168-23-006858.txt

## Key facts
- Governance Changes
  EBET, Inc.: Approved and filed an amendment to the amended and restated articles of incorporation to effect a 1-for-30 reverse stock split (effective 2023-09-29).
  - Change: charter amendment
  - Effective: 2023-09-29
  source text: At the Company’s annual meeting of stockholders completed on July 26, 2023, the stockholders of the Company approved an amendment to the Company’s amended and restated articles of incorporation (the “Amendment”) to effect the reverse stock split at a ratio in the range of 1-for-2 to 1-for-30, with such ratio to be determined in the discretion of the Company’s board of directors and with such reverse stock split to be effected at such time and date, if at all, as determined by the Company’s board of directors in its sole discretion prior to the one-year anniversary of the annual meeting. 3 Pursuant to such authority granted by the Company’s stockholders, the Company’s board of directors approved a one-for-thirty (1:30) reverse stock split (the “Reverse Stock Split”) of the Company’s common stock and the filing of the Amendment to effectuate the Reverse Stock Split. The Amendment was filed with the Secretary of State of the State of Nevada and the Reverse Stock Split became effective in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829966/000168316823006858/0001683168-23-006858-index.htm
- Material Agreements
  EBET, Inc. amended Forbearance Amendment No. 2 with CP BF Lending, LLC valued at extended Forbearance Date to June 30, 2025; increased interest rate to 16.5% per annum; principal am (effective 2023-10-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: CP BF Lending, LLC
  - Value: extended Forbearance Date to June 30, 2025; increased interest rate to 16.5% per annum; principal am
  - Effective: 2023-10-01
  source text: On October 1, 2023, the Company, the subsidiaries of the Company and the Lender entered into an amendment number 2 to the Forbearance Agreement (the “Forbearance Amendment No. 2”). The Forbearance Amendment No. 2 extended the Forbearance Date from October 31, 2023 until June 30, 2025, and provides that instead of interest being payable monthly in cash, such interest shall accrue in arrears and can be added to the outstanding principal balance of the Loan. The interest rate on the Loan and the Revolving Loan was increased to 16.5% per annum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829966/000168316823006858/0001683168-23-006858-index.htm

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