secwatch.observer — SEC 8-K summary
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Issuer:     Arax Holdings Corp (—)
CIK:        0001566243
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001753926-23-000680
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arax Holdings issues $3.43M in 10% convertible notes to accredited investors
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- Aggregate principal of $3,432,980 in convertible notes issued Feb 1–May 10, 2023 to private accredited investors.
- Notes carry 10% annual interest, mature in 2 years; conversion price at 80% of lowest 3 closing prices in prior 10 trading days.
- Conversion limited to 4.99% of outstanding shares per holder; net proceeds used for general working capital.
- Notes issued in exempt private placement under Section 4(a)(2) and Regulation D of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1566243/000175392623000680/0001753926-23-000680-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1566243/000175392623000680/g083546_8k.htm
  HTML page:      https://secwatch.observer/filing/0001753926-23-000680

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