Stewards, Inc. — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Stewards, Inc. issued an unsecured convertible promissory note with $5.5M purchase price and $6.05M principal amount (including $550K OID) to CROM Structured Opportunities Fund I, LP on October 28, 2026. The note converts at 90% of 5-day VWAP, matures in 12 months, carries 10% interest ($605K guaranteed), and includes 121,109 warrant shares to placement agent E.F. Hutton. Conversion commencement is January 31, 2027; 45.3M shares (19.99%) reserved under Exchange Cap pending shareholder approval.
Why this rating
At $5.5M relative to $174M assets (~3.2%), this is routine subordinated financing for the company's size. Standard terms. Modest dilution risk.
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