secwatch.observer — SEC 8-K summary
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Issuer:     Aclarion, Inc. (ACON)
CIK:        0001635077
Form:       8-K
Filed at:   2024-08-16T23:59:59+00:00
Accession:  0001683168-24-005844
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aclarion exchanges $930K of near-maturing notes for Series B Preferred convertible at $0.234/share
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- Exchanged $930,000 of principal and accrued interest on notes due Sept 2024 for 930 Series B Preferred shares at $1,000 each.
- Series B Preferred converts at $0.234 per share, with full-ratchet anti-dilution on future below-conversion-price issuances.
- Preferred pays 10% annual dividends (cash or stock at company option) and ranks senior to common upon liquidation.
- Conversion capped at 4.99% beneficial ownership (holder may raise to 9.99% on 61-day notice).
- Company may redeem at 125% of liquidation value; triggering events (bankruptcy, Nasdaq noncompliance) raise dividend to 18% and lower conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1635077/000168316824005844/0001683168-24-005844-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1635077/000168316824005844/acon_8k-exchange.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-005844

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