---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-059373"
form_type: "8-K"
ticker: null
cik: "0000719274"
company_name: "GRESHAM WORLDWIDE, INC."
filed_at: "2023-11-06T23:59:59+00:00"
generated_at: "2026-06-08T21:37:18.121904+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Giga-tronics borrows $766K under new $1M 12% convertible note due June 2025

## Summary
- Issued $1M 12% Senior Secured Subordinated Convertible Promissory Note to Ault Lending, LLC on Oct 31, 2023.
- As of filing date, $766,405 principal borrowed under the note; maturity June 30, 2025.
- Note is convertible on same terms as prior Dec 2022 note and secured but subordinated to senior creditors.
- Convertible note carries 12% annual interest; terms include Ault Alliance subordination agreement.

## SEC filing metadata
- accession: 0000950170-23-059373
- form_type: 8-K
- cik: 0000719274
- company_name: GRESHAM WORLDWIDE, INC.
- filed_at: 2023-11-06T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719274/000095017023059373/0000950170-23-059373-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719274/000095017023059373/giga-20231031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-059373
- JSON: https://secwatch.observer/filing/0000950170-23-059373.json
- Plain text: https://secwatch.observer/filing/0000950170-23-059373.txt

## Key facts
- Debt Financings
  GRESHAM WORLDWIDE, INC. incurred senior notes of $1,000,000 with Ault Lending, LLC at 12% per annum maturing June 30, 2025.
  - Instrument: senior notes
  - Principal: $1,000,000
  - Counterparty: Ault Lending, LLC
  - Rate: 12% per annum
  - Maturity: June 30, 2025
  - Event: incurrence
  source text: On October 31, 2023, Giga-Tronics Incorporated (the “Company”) issued Ault Lending, LLC (“Ault Lending”) a $1,000,000 12% Senior Secured Subordinated Promissory Note (the “New Ault Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/719274/000095017023059373/0000950170-23-059373-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.