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

Issuer:     LUDWIG ENTERPRISES, INC. (LUDG)
CIK:        0001960262
Form:       8-K
Filed at:   2024-02-26T23:59:59+00:00
Accession:  0001903596-24-000094
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ludwig Enterprises enters $5M equity line and $50K promissory note with institutional investor
--------------------------------------------------------------------------------

- Common Stock Purchase Agreement for up to $5,000,000; shares sold at 80% of lowest traded price over six days.
- Investor received five-year warrant for 2,604,667 shares with anti-dilution and cashless exercise.
- Promissory note of $50,000 issued, netting $40,000 after $10,000 OID; matures May 12, 2024, convertible on default.
- Equity line capped at $250,000 per notice or 250% of average daily volume; 4.99% beneficial ownership limit.
- Registration rights agreement requires filing within 20 days for shares issuable under the agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1960262/000190359624000094/0001903596-24-000094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1960262/000190359624000094/ludg_8k.htm
  HTML page:      https://secwatch.observer/filing/0001903596-24-000094

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