secwatch.observer — SEC 8-K summary
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Issuer:     Kinetic Seas Inc. (KSEZ)
CIK:        0001945619
Form:       8-K
Filed at:   2026-02-27T23:59:59+00:00
Accession:  0001683168-26-001361
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinetic Seas issues $148,500 convertible promissory note to LABRYS FUND II, L.P.
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- Principal $148,500; purchase price $135,000 (includes $13,500 original issue discount).
- Matures Feb 23, 2027; 8% one-time interest earned at issuance; scheduled amortization begins May 18, 2026.
- Holder may convert after 180 days; conversion price = 85% of lowest closing bid price over prior 10 trading days.
- Beneficial ownership limitation set at 4.99% (can be increased to 9.99% with 61 days' notice).
- Private placement exempt under Section 4(a)(2) and Rule 506; securities are restricted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1945619/000168316826001361/0001683168-26-001361-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1945619/000168316826001361/kinetic_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-001361

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