Bespoke Extracts Extends Senior Secured Notes to August 14th with Higher Interest and Share Issuance
BSPK has more than doubled off its 52-week low of $0.031 on light trading volume (0.3× avg).
Summary
Bespoke Extracts extended its $410,000 senior secured notes by 45 days to August 14, 2026, agreeing to a higher interest rate and issuing $41,000 in common stock as an extension fee, signaling financial distress.
Key Events · Financing and Capital Events · BSPK
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Debt Maturity Extended
The maturity date for $410,000 in Senior Secured Promissory Notes was extended from June 30, 2026, to August 14, 2026, a short 45-day reprieve.
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Interest Rate Increased
For the extension period (July 1 to August 14, 2026), the interest rate on the notes increased from 15% to 17% per annum.
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Dilutive Extension Fee
As consideration for the extension, the company will issue 287,719 shares of common stock, valued at approximately $41,000, to the noteholders. This represents a dilutive cost for a short-term debt extension.
Analysis · BSPK · Life Sciences
Bespoke Extracts, a micro-cap company, has secured a very short-term extension on its $410,000 senior secured promissory notes, pushing the maturity date to August 14, 2026. This extension comes at a higher interest rate (17% from 15%) and requires the issuance of approximately $41,000 in common stock as an extension fee. This indicates significant liquidity challenges and a struggle to meet immediate debt obligations, as the company is incurring additional costs and dilution for a mere 45-day reprieve.
At the time of this filing, BSPK was trading at $0.13 on OTC in the Life Sciences sector, with a market capitalization of approximately $1.5M. The 52-week trading range was $0.03 to $1.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.