secwatch.observer — SEC 8-K summary
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Issuer:     GRESHAM WORLDWIDE, INC. (—)
CIK:        0000719274
Form:       8-K
Filed at:   2023-11-06T23:59:59+00:00
Accession:  0000950170-23-059373
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719274/000095017023059373/0000950170-23-059373-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719274/000095017023059373/giga-20231031.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-059373

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