{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-053608","form_type":"8-K","ticker":null,"cik":"0000719274","company_name":"GRESHAM WORLDWIDE, INC.","filed_at":"2023-10-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.812950+00:00","generated_at":"2026-06-09T22:57:24.846069+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Giga-tronics exchanges $1.67M notes for $2M each, maturity extended, new warrants issued","bullets":["Principal of each converted note increased from $1.6667M to $2M; maturity extended to April 11, 2024; interest rate reduced to 7% from 10%.","Issued new five-year warrants for 333,333 shares per buyer; additional 833,333 warrant shares per buyer due to failure of uplist.","Ault Lending extended its note maturities to Jan 15, 2025, subordinated to new notes, and agreed to accrue interest while new notes outstanding.","Working capital covenant: minimum increase of $250k/quarter for Q4 2023 and Q1 2024, then $500k/quarter thereafter.","Exchange exempt from registration under Section 3(a)(9) of the Securities Act."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-053608","json":"https://secwatch.observer/filing/0000950170-23-053608.json","markdown":"https://secwatch.observer/filing/0000950170-23-053608.md","text":"https://secwatch.observer/filing/0000950170-23-053608.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/719274/000095017023053608/0000950170-23-053608-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/719274/000095017023053608/giga-20231011.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T22:57:24.846069+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6670e14d35ee8ad34683a6119ac6a11b6e021217","claim":"GRESHAM WORLDWIDE, INC. amended convertible notes of $2,000,000 with two accredited investors at 7% per year maturing April 11, 2024.","evidence_excerpt":"January 11, 2023 (the “Previous 8-K”)), including the conversion price, except: (A) the maturity date of the New Notes is April 11, 2024, (B) the principal of each New Note is $2,000,000, (C) the interest rate is 7% per year, and (D) the New Notes have a working capital covenant pursuant to which the Company’s working capital, excluding any debt owed to Ault","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/719274/000095017023053608/0000950170-23-053608-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$2,000,000"},{"label":"Counterparty","value":"two accredited investors"},{"label":"Rate","value":"7% per year"},{"label":"Maturity","value":"April 11, 2024"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"5dfc47656921423ae76e57b84d6528c1666d5f3b","claim":"GRESHAM WORLDWIDE, INC. entered into Exchange and Waiver Agreement with two accredited investors (effective 2023-10-11).","evidence_excerpt":"On October 11, 2023, Giga-tronics Incorporated (the “Company”) entered into an Exchange and Waiver Agreement (the “Agreement”) with two accredited investors (the “Buyers”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/719274/000095017023053608/0000950170-23-053608-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"two accredited investors"},{"label":"Effective","value":"2023-10-11"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}