{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-098113","form_type":"8-K","ticker":null,"cik":"0000719274","company_name":"GRESHAM WORLDWIDE, INC.","filed_at":"2024-08-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:15.690833+00:00","generated_at":"2026-05-31T08:54:49.958306+00:00","sec_items":["1.02","1.03","2.04","5.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Gresham Worldwide files Ch. 11; Ault merger terminated; $2M note default; CEO resigns then reappointed","bullets":["Filed Chapter 11 bankruptcy in Arizona on Aug 14, 2024; automatic stay halts non-judicial foreclosure on collateral.","Ault Disruptive Technologies terminated merger agreement on Aug 15 due to bankruptcy filing, citing Terminating Company Breach.","Received default notice on $2M senior secured convertible notes; Arena Investors demands immediate payment; lawsuit in NY state court.","Arena triggered forced resignation of CEO Jonathan Read on Aug 12; Board reappointed him on Aug 13 effective immediately."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-098113","json":"https://secwatch.observer/filing/0000950170-24-098113.json","markdown":"https://secwatch.observer/filing/0000950170-24-098113.md","text":"https://secwatch.observer/filing/0000950170-24-098113.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/719274/000095017024098113/0000950170-24-098113-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/719274/000095017024098113/giga-20240812.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T08:54:49.958306+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":"b08041ff0d8dd12dd289aaf8747cdbdb34575358","claim":"GRESHAM WORLDWIDE, INC. entered chapter 11 in U.S. Bankruptcy Code for the District of Arizona (petition 2024-08-14).","evidence_excerpt":"On August 14, 2024, the Company filed a petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code for the District of Arizona.","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/719274/000095017024098113/0000950170-24-098113-index.htm","confidence":0.9,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"U.S. Bankruptcy Code for the District of Arizona"},{"label":"Petition","value":"2024-08-14"}],"fact_type":"distress_event"},{"claim_id":"835429b91d","claim":"Jonathan Read was appointed as Chief Executive Officer and director at GRESHAM WORLDWIDE, INC..","evidence_excerpt":"On August 13, 2024, the Company’s Board of Directors reappointed Jonathan Read as the Company’s Chief Executive Officer, effective immediately, and as a director following the meeting of the Board of Directors held that day.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/719274/000095017024098113/0000950170-24-098113-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"reappointed"},{"label":"Role","value":"Chief Executive Officer and director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}