Bespoke Extracts Files 8-K: Agreements, Obligations, Equity Sales

TL;DR

Bespoke Extracts (EXBT) filed an 8-K detailing new agreements, financial obligations, and equity sales on Dec 18, 2024.

AI Summary

On December 18, 2024, Bespoke Extracts, Inc. entered into a material definitive agreement. The company also reported the creation of a direct financial obligation and unregistered sales of equity securities. The filing details financial statements and exhibits related to these events.

Why It Matters

This 8-K filing indicates significant corporate actions by Bespoke Extracts, Inc., including new agreements, financial obligations, and equity transactions, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered equity sales, which can introduce financial and operational risks.

Key Players & Entities

• Bespoke Extracts, Inc. (company) — Registrant
• December 18, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• 000-52759 (filing_id) — SEC File Number

FAQ

Key Financial Figures

• $310,000 — The Company sold an aggregate amount of $310,000 in Notes and issued an aggregate of 930
• $0.062 — 24 Warrant is exercisable at a price of $0.062 per share for a period of two years. T
• $175,000 — riod of two years. The Company took in $175,000 of new funds and certain existing holde
• $135,000 — rtain existing holders of approximately $135,000 of Company's outstanding indebtedness r

Filing Documents

• ea0225907-8k_bespoke.htm (8-K) — 26KB
• ea022590701ex10-1_bespoke.htm (EX-10.1) — 50KB
• ea022590701ex10-2_bespoke.htm (EX-10.2) — 26KB
• ea022590701ex10-3_bespoke.htm (EX-10.3) — 26KB
• 0001213900-24-112515.txt ( ) — 323KB
• bspk-20241218.xsd (EX-101.SCH) — 3KB
• bspk-20241218_lab.xml (EX-101.LAB) — 33KB
• bspk-20241218_pre.xml (EX-101.PRE) — 22KB
• ea0225907-8k_bespoke_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 18, 2024, Bespoke Extracts, Inc. (the " Company ") and several non-affiliated accredited investors (each a " Purchaser ", collectively " Purchasers ") entered into and closed securities purchase agreements (the " Purchase Agreement "), pursuant to which the Company issued and sold to each Purchaser a 15% senior secured promissory note (the " Notes ") and the accompanying warrants (the " Warrants "), including a warrant (the " December 2024 Warrant "). The Notes are senior in terms of priority on liquidation to all other existing debt obligations of the Company. The Notes have a maturity date of June 30, 2026. The Company sold an aggregate amount of $310,000 in Notes and issued an aggregate of 930,00 December 2024 Warrants. Each December 2024 Warrant is exercisable at a price of $0.062 per share for a period of two years. The Company took in $175,000 of new funds and certain existing holders of approximately $135,000 of Company's outstanding indebtedness rolled over their obligations into the Notes and Warrants. The proceeds will be utilized for working capital including potential acquisitions. The foregoing description of the Notes does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, the Form of Promissory Note and the Form of December 2024 Warrant, which are filed as Exhibit 10.1, 10.2 and 10.3 to this Current Report on Form 8-K and are incorporated herein by reference. The foregoing description of the Notes does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, the Form of Note and the Form of Warrant, which are filed as Exhibit 10.1, 10.2 and 10.3 to this Current Report on Form 8-K and are incorporated herein by reference. The capitalized terms used herein without definition shall have the meanings assigned to them in the Purchase Agreement.

03 Creation of a Direct Financial Obligation

Item 2.03 Creation of a Direct Financial Obligation. The information under Item 1.01 is incorporated by reference into this

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The information under Item 1.01 is incorporated by reference into this

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit 10.1 Form of Purchase Agreement 10.2 Form of Note 10.3 Form of Warrant 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Bespoke Extracts, Inc. Date: December 26, 2024 By: /s/ Michael Feinsod Michael Feinsod Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR