Securetech Innovations, Inc. (SCTH) Form 8-K — Oct 21, 2026
$SCTHForm 8-KItems 1.01, 2.03, 3.02, 9.01Filed Oct 21, 2026, 4:35 PM ET0001017386-26-000144Original filing
SecureTech Innovations (SCTH) entered a Securities Purchase Agreement with Hinterland Partners LLC on October 16, 2026, issuing a convertible promissory note with up to $10,000,000 principal for a purchase price of up to $9,000,000 — a $1,000,000 original issue discount. Only a first tranche of $388,888.89 principal ($350,000 purchase price) was funded, and after fees SecureTech received just $293,000 in net proceeds. Additional tranches require the holder's mutual written consent, so the full $10M is not committed capital.
Key figures
- Debt Amount
- 10000000
- Interest Rate
- 6% one-time charge per tranche; 18% default rate
- Maturity Date
- October 16, 2027 (first tranche)
- Gross Proceeds
- 350000
- Shares Outstanding
- 17092694
- Placement agent fee
- 24500
- Minimum reserved shares
- 2500000
- Original issue discount
- 1000000
- Authorized common shares
- 500000000
- Beneficial ownership cap
- 4.99%
- Conversion price formula
- 60% of lowest traded price during 15 trading days prior to conversion
- Default amount multiplier
- 125% of principal plus interest
- Net proceeds first tranche
- 293000
- Series a preferred outstanding
- 19725
AI analysis
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