secwatch.observer — SEC 8-K summary
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Issuer:     Damon Inc. (DMNIF)
CIK:        0002000640
Form:       8-K
Filed at:   2025-03-25T23:59:59+00:00
Accession:  0001013762-25-002132
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 1.02, 3.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Damon receives Nasdaq MVPHS non-compliance notice; closes dilutive $15M unit offering
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- Nasdaq notified Damon on March 20 that MVPHS was below $15M for 30 consecutive business days; compliance period until Sept 16, 2025.
- Closed underwriting with Maxim Group: 126.9M units at $0.13/unit, each unit = 1 common share + 1 Series A warrant; net proceeds ~$15M.
- Series A warrants exercisable at $0.195/share, but alternate cashless exercise allows 2.5 shares for no cash – company expects no additional funds from warrant exercise.
- Consent agreement with Streeterville: uses ~14% of net proceeds ($2.1M) to prepay note; East West note terminated.
- Settled with former advisor Peikin: pays $2.515M total, $1.515M cash, $1M deferred; Peikin surrenders 1,255,230 shares for cancellation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2000640/000101376225002132/0001013762-25-002132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2000640/000101376225002132/ea0235406-8k_damon.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-002132

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