secwatch.observer — SEC 8-K summary
======================================

Issuer:     Star Alliance International Corp. (—)
CIK:        0001614556
Form:       8-K
Filed at:   2024-05-17T23:59:59+00:00
Accession:  0001683168-24-003623
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Star Alliance signs $25M line of credit with convertible commitment note
------------------------------------------------------------------------

- Up to $25,000,000 in multiple advances of up to $25,000 each, 60-day term per advance, secured by all assets.
- Issued $500,000 convertible promissory note as commitment consideration, convertible on similar terms.
- Initial Note convertible at 75% of avg of two lowest intraday prices over 20 trading days before conversion; 4.99% cap.
- Covenants restrict share issuance below conversion price for 2 years and additional debt >$100,000 without majority approval.
- Default interest at 18% per annum; subsequent Notes convertible only upon default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1614556/000168316824003623/0001683168-24-003623-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1614556/000168316824003623/star_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-003623

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