secwatch.observer — SEC 8-K summary
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Issuer:     Marti Technologies, Inc. (MRT)
CIK:        0001852767
Form:       8-K/A
Filed at:   2023-05-08T23:59:59+00:00
Accession:  0001104659-23-056875
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Galata Acquisition Corp. amends convertible note terms; decreases conversion premium to 10%
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- Conversion premium lowered from 15% to 10%; reset now monthly for first 12 months vs. once on first anniversary.
- Reset price floor reduced to $1.50 (from $5.00) with $10.00 cap; resets based on 20-day VWAP before each reset date.
- Callaway Capital Management (director affiliate) may subscribe for up to $40M of convertible notes from closing date to one year anniversary.
- Revised Indenture entered between SPAC and convertible note holders; Callaway Subscription Agreement unanimously approved by board.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852767/000110465923056875/0001104659-23-056875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852767/000110465923056875/tm2314866d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-056875

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