SEC Form 8-K filed by Impact BioMedical Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry Into a Material Definitive Agreement. |
Debt Conversion Agreement
As previously reported, Impact BioMedical Inc. (the “Company”) entered into a Debt Conversion Agreement, dated March 24, 2025, with DSS, Inc., pursuant to that certain Amended and Restated Promissory Note, dated September 16, 2024 (the “Promissory Note”). The original principal amount of the Promissory Note was $12,000,000, and as of March 24, 2025, the Promissory Note had a principal balance of $13,176,477.03.
In connection with the above, the Company and DSS have agreed to settle a portion of the outstanding indebtedness under the Promissory Note in the amount of $8,697,142.80 through the issuance of 2,415,873 shares of the Company’s common stock, at a conversion ratio of $3.60 per share, which was equal to the closing market price of the Company’s common stock on March 24, 2025.
| Item 9.01 | Financial Statements and Exhibits. |
Exhibit Number |
Description | |
| 10.1 | Partial Settlement of Debt Agreement, dated March 24, 2025 | |
| 104 | Cover page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| IMPACT BIOMEDICAL INC. | ||
| Date: March 28, 2025 | By: | /s/ Frank D. Heuszel |
| Name: | Frank D. Heuszel | |
| Title: | Chief Executive Officer | |