WAVS enters forward purchase agreement to backstop up to 300K shares in Cycurion business combination

Cycurion, Inc.

Alpha Capital purchased 300,000 shares from redeeming stockholders and waives redemption rights in WAVS-Cycurion merger.
Put right: Alpha may sell shares to WAVS at redemption price between 6-12 months post-closing, with acceleration triggers.
Agreement includes reset price mechanism starting at $8.00, subject to adjustments based on VWAP.
WAVS will fund escrow account at closing equal to redemption price times shares held by Alpha.
Brokerage fees reimbursed up to $0.05/share purchase and $0.02/share disposition.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cycurion, Inc. entered into Forward Share Purchase Agreement with Alpha Capital Anstalt (effective 2023-01-10).

Action: entry
Agreement: equity purchase
Counterparty: Alpha Capital Anstalt
Effective: 2023-01-10

Exact text from the filing

On January 10, 2023, Western Acquisition Ventures Corp. (“WAVS”), Cycurion, Inc., a Delaware corporation (“Cycurion”), and Alpha Capital Anstalt (“Alpha”), entered into a Forward Share Purchase Agreement (the “Forward Purchase Agreement”).

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Cycurion, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-004275

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