secwatch.observer — SEC 8-K summary
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Issuer:     EBET, Inc. (—)
CIK:        0001829966
Form:       8-K
Filed at:   2023-10-02T23:59:59+00:00
Accession:  0001683168-23-006858
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823006858/0001683168-23-006858-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823006858/ebet_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-006858

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