NetBrands Corp. Files 8-K on Financial Obligations and Equity Sales
Ticker: NBND · Form: 8-K · Filed: Mar 29, 2024 · CIK: 1725911
| Field | Detail |
|---|---|
| Company | Netbrands CORP. (NBND) |
| Form Type | 8-K |
| Filed Date | Mar 29, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $300,000, $187,777, $150,000, $285,000, $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, equity-sale, material-agreement
Related Tickers: NBDS
TL;DR
NetBrands Corp. took on new debt and sold unregistered equity on March 22nd.
AI Summary
On March 22, 2024, NetBrands Corp. entered into a material definitive agreement related to a direct financial obligation. The company also reported on unregistered sales of equity securities. This filing details the creation of a direct financial obligation and potentially unregistered equity sales.
Why It Matters
This filing indicates potential new debt or financial commitments for NetBrands Corp. and may signal the issuance of new shares, which could impact existing shareholders.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, direct financial obligations, and unregistered sales of equity, all of which can carry inherent risks.
Key Players & Entities
- NetBrands Corp. (company) — Registrant
- March 22, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 000-55889 (other) — SEC File Number
FAQ
What type of material definitive agreement did NetBrands Corp. enter into?
The filing indicates the entry into a material definitive agreement that resulted in the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on March 22, 2024.
What other significant event is reported in this filing besides the financial obligation?
The filing also reports on unregistered sales of equity securities.
What is NetBrands Corp.'s state of incorporation?
NetBrands Corp. is incorporated in Delaware.
What is the SEC file number for NetBrands Corp.?
The SEC file number for NetBrands Corp. is 000-55889.
Filing Stats: 1,979 words · 8 min read · ~7 pages · Grade level 13.3 · Accepted 2024-03-28 20:28:08
Key Financial Figures
- $300,000 — unding agreed to loan the Company up to $300,000, in two tranches (the "Cove Loan"), and
- $187,777 — cipal amount of the Convertible Note is $187,777 (the "First Tranche"), from which the C
- $150,000 — ch the Company received net proceeds of $150,000 (after deducting a 5% commitment fee, a
- $285,000 — 9% beneficial ownership limitation) (a) $285,000 in shares of the Company's common stock
- $0.0001 — f the Company's common stock, par value $0.0001 per share ("Common Stock"), in two tran
- $187,778 — s, with the first being in an amount of $187,778 in shares of the Company's Common Stock
- $0 — ersion price equal to the lesser of (a) $0.07, or (b) the five-trading day closing
- $25,000 — y (a) paid Spencer Clarke a cash fee of $25,000 (for up to $300,000 raised in the finan
- $0.07 — e. The Warrant has an exercise price of $0.07 per share, subject to adjustment. The W
Filing Documents
- form8-k.htm (8-K) — 56KB
- ex4-1.htm (EX-4.1) — 172KB
- ex4-2.htm (EX-4.1) — 131KB
- ex10-1.htm (EX-10.1) — 159KB
- ex10-2.htm (EX-10.2) — 73KB
- ex10-3.htm (EX-10.3) — 75KB
- ex10-4.htm (EX-10.4) — 13KB
- ex10-1_001.jpg (GRAPHIC) — 7KB
- ex10-3_001.jpg (GRAPHIC) — 4KB
- 0001493152-24-011832.txt ( ) — 1004KB
- nbnd-20240322.xsd (EX-101.SCH) — 3KB
- nbnd-20240322_lab.xml (EX-101.LAB) — 33KB
- nbnd-20240322_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
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. NETBRANDS CORP. Date: March 28, 2024 By: /s/ Paul Adler Paul Adler President