secwatch.observer — SEC 8-K summary
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Issuer:     Cyber App Solutions Corp. (—)
CIK:        0001851048
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0000950170-23-066103
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyber App Solutions issues $16M convertible notes with warrants to Kips Bay Select and Cyber One
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- Net proceeds of $8M after 50% original-issue discount used to settle $6M Alpha Carta Ltd. debt and Trade Credit Agreement.
- Notes bear 5% interest (18% after default), mature July 21, 2024; monthly payments of $1.5M begin Jan 21, 2024.
- Warrants for up to 7,692,308 shares exercisable at lower of $3.12 per share or Valuation Cap Price (cap $250M).
- Subsidiaries Proton Green LLC and PG LandCo LLC guarantee the notes; assets pledged as collateral.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851048/000095017023066103/0000950170-23-066103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851048/000095017023066103/cyrb-20231121.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-066103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer