secwatch.observer — SEC 8-K summary
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Issuer:     Marti Technologies, Inc. (MRT)
CIK:        0001852767
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001104659-23-056016
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Galata SPAC amends Marti deal: cash condition dropped, outside date extended, note terms revised
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- Removes $50M minimum cash closing condition; extends outside date to July 31, 2023.
- Revised convertible notes: conversion premium increased to 15%, monthly reset dates, floor lowered to $1.50.
- Lock‐up restrictions eliminated for PIPE investors, sponsor, and insiders (directors/management).
- Farragut gets option to subscribe up to $40M in convertible notes post‐closing.
- PIPE Amendment extends subscription agreement termination date to July 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852767/000110465923056016/0001104659-23-056016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852767/000110465923056016/tm2314505d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-056016

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