secwatch.observer — SEC 8-K summary
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Issuer:     Cycurion, Inc. (CYCU)
CIK:        0001868419
Form:       8-K
Filed at:   2023-01-17T23:59:59+00:00
Accession:  0001104659-23-004275
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1868419/000110465923004275/0001104659-23-004275-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1868419/000110465923004275/tm233693d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-004275

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