secwatch.observer — SEC 8-K summary
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Issuer:     ProSomnus, Inc. (—)
CIK:        0001934064
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0001104659-23-102614
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ProSomnus issues $10.1M Series A Preferred & warrants; Nasdaq warns on MVPHS
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- Entered Securities Purchase Agreement for up to 25,000 Series A Preferred shares at $1,000 each for up to $25M; initial closing of 10,126 shares ($10.1M).
- Warrants to purchase 5,154,524 shares of common stock at $1.00 per share; exercise contingent on stockholder approval.
- Exchanging ~$3.4M Senior Notes and ~$11.6M Subordinated Notes for new convertible notes at $1.00 conversion price.
- Received Nasdaq notice on Sep 18, 2023 for failure to maintain minimum MVPHS of $15M; 180 days to regain compliance by Mar 18, 2024.
- Proceeds from offering for general working capital; investors include directors and officers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1934064/000110465923102614/0001104659-23-102614-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1934064/000110465923102614/tm2326561d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-102614

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