secwatch.observer — SEC 8-K summary
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Issuer:     Fathom Holdings Inc. (FTHM)
CIK:        0001753162
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001104659-23-045569
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fathom issues $3.5M convertible note; reiterates adjusted EBITDA breakeven Q2 2023
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- Net proceeds of $3.3M from $3.5M convertible note after $175K placement agent fee to Roth Capital.
- Conversion price $6.00/share, ~18.3% premium over prior close; matures April 12, 2025.
- Interest rate SOFR +5% annually, min 8%, paid quarterly in cash; secured by all assets and subsidiary guarantees.
- Management reiterates adjusted EBITDA breakeven in Q2 and cash flow breakeven in Q3 2023.
- Beneficial ownership conversion cap at 4.99% (adjustable to 9.99%); Nasdaq 19.99% issuance limit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1753162/000110465923045569/0001104659-23-045569-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1753162/000110465923045569/tm2312659d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-045569

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