{"url_path":"/sec/igc/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1326205/0001185185-26-001885-index.html","accession_number":"0001185185-26-001885","cik":"0001326205","ticker":"IGC","issuer_name":"IGC Pharma, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1326205/0001185185-26-001885-index.html","primary_entity_key":"0001326205","primary_entity_name":"IGC Pharma, Inc."},"word_count":174,"has_tables":true,"body_markdown":"**Item\n2. Unregistered Sales of Equity Securities and Use of Proceeds**\n\n \n\nOn\nMarch 5, 2026, the Company issued a promissory note to VFG with a principal amount of approximately $353 thousand, maturing on February\n28, 2027. The VFG Note was issued with an original issue discount of approximately $46 thousand and debt issuance costs of approximately\n$25 thousand, resulting in net proceeds of approximately $282 thousand. The note is convertible, upon the occurrence of certain events,\ninto shares of the Company’s common stock at a variable conversion price. Any shares issuable upon conversion of the note will\nbe issued pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act. The terms of the transaction, including\nconversion limitations and other material provisions, are more fully described in the Company’s Current Report on Form 8-K filed\nwith the Securities and Exchange Commission on March 12, 2026.\n\n \n\nThe\ntransactions described above are intended to be exempt from registration under the Securities Act, by virtue of the provisions of Section\n4(a)(2) of the Securities Act."}