secwatch.observer — SEC 8-K summary
======================================

Issuer:     VICTORY CLEAN ENERGY, INC. (—)
CIK:        0000700764
Form:       8-K
Filed at:   2024-01-05T23:59:59+00:00
Accession:  0001079973-24-000028
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Victory Oilfield Tech completes H2 Energy Group merger; new leadership, $4M financing
--------------------------------------------------------------------------------

- Merger closed Jan 1, 2024; H2EG stockholders issued 418,822,708 shares, owning 81% of Victory.
- New board: Christopher Headrick (Chair), James McGinley (CEO/President), Neil Goulden, Kevin DeLeon remain.
- $4M preferred equity financing with Flagstaff International: 67,797 Series E shares, $250K monthly installments starting Feb 2024.
- Authorized common shares (300M) insufficient; prefunded warrants issued for excess, exercisable only after share increase.
- Former CEO Kevin DeLeon resigns as CEO, President, and Principal Financial Officer; stays on board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700764/000107997324000028/0001079973-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700764/000107997324000028/vyey_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-000028

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