---
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"
generated_at: "2026-05-31T08:54:49.958306+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Gresham Worldwide files Ch. 11; Ault merger terminated; $2M note default; CEO resigns then reappointed

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-098113
- form_type: 8-K
- cik: 0000719274
- company_name: GRESHAM WORLDWIDE, INC.
- filed_at: 2024-08-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.02, 1.03, 2.04, 5.02
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-098113
- JSON: https://secwatch.observer/filing/0000950170-24-098113.json
- Plain text: https://secwatch.observer/filing/0000950170-24-098113.txt

## Key facts
- Distress & Bankruptcy
  GRESHAM WORLDWIDE, INC. entered chapter 11 in U.S. Bankruptcy Code for the District of Arizona (petition 2024-08-14).
  - Proceeding: chapter 11
  - Court: U.S. Bankruptcy Code for the District of Arizona
  - Petition: 2024-08-14
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/719274/000095017024098113/0000950170-24-098113-index.htm
- Executive change
  Jonathan Read was appointed as Chief Executive Officer and director at GRESHAM WORLDWIDE, INC..
  - Action: reappointed
  - Role: Chief Executive Officer and director
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/719274/000095017024098113/0000950170-24-098113-index.htm

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