secwatch.observer — SEC 8-K summary
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Issuer:     Cyber App Solutions Corp. (—)
CIK:        0001851048
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0000950170-24-126425
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 3.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyber App Solutions issues 10M shares to extend forbearance on ~$21M debt
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- Issued 5M shares each to Kips Bay Select and Cyber One (10M total) for forbearance extension.
- Must pay $1.3M each by Nov 21, 2024, and $6M each by Jan 31, 2025; shares returnable if paid.
- Holders get board observation rights and view access to all bank accounts until full payment.
- Company restricted from incurring additional debt until up-listing or full settlement of obligations.
- Aggregate principal outstanding acknowledged at approximately $21M as of November 6, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851048/000095017024126425/0000950170-24-126425-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851048/000095017024126425/cyrb-20241106.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-126425

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