Bespoke Extracts, Inc. 8-K

What Happened

• On June 30, 2026 Bespoke Extracts, Inc. filed an 8-K reporting a First Amendment to its December 2024 Senior Secured Promissory Notes. The amendment extends the notes’ maturity from June 30, 2026 to August 14, 2026, increases the interest rate from 15% to 17% for the period July 1, 2026 through the extended maturity, and provides for issuance of common stock as an extension fee. All principal, accrued interest and other obligations remain due and payable in full on August 14, 2026.

Key Details

• New maturity: Extended from June 30, 2026 to August 14, 2026.
• Interest rate: Increased to 17% per annum for July 1, 2026 through August 14, 2026; interest through June 30 remains at 15%.
• Extension fee (shares): Company will issue Extension Shares equal to 10% of each Holder’s outstanding principal; based on $410,000 aggregate principal and a 10‑day VWAP of $0.1425, Bespoke expects to issue ≈287,719 shares. Shares to be issued within 30 days of the amendment.
• Other terms: Notes remain senior secured with existing liens and security interests; except as amended, all other note terms continue in full force. The amendment form is filed as Exhibit 10.1.

Why It Matters

• The amendment pushes out a near-term debt payment by about six weeks but increases the company’s short-term borrowing cost (higher interest for the extension period) and compensates lenders with equity, which dilutes current shareholders.
• For investors, this is a material short-term financing action: it preserves liquidity by delaying repayment to August 14, 2026, while increasing cash-equivalent cost and issuing roughly 287.7k new shares as non-cash consideration.