secwatch.observer — SEC 8-K summary
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Issuer:     Palladyne AI Corp. (PDYN)
CIK:        0001826681
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0000950170-24-119511
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palladyne AI prices $7M registered direct offering and concurrent private placements with insiders
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- Priced registered direct offering of 2.79M shares at $2.15 each, with warrants for 2.79M shares at $2.30.
- CEO and board members purchased 430K shares at $2.20 and warrants for 430K shares at $0.125 each.
- Total gross proceeds of approximately $7M from offerings; net proceeds for working capital and product development.
- Warrants become exercisable in 6 months and expire 5.5 years from issuance.
- Offering expected to close November 1, 2024; lock-up agreements for 60 days for executives/directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826681/000095017024119511/0000950170-24-119511-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826681/000095017024119511/pdyn-20241031.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-119511

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