secwatch.observer — SEC 8-K summary
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Issuer:     GSI TECHNOLOGY INC (GSIT)
CIK:        0001126741
Form:       8-K
Filed at:   2024-05-22T23:59:59+00:00
Accession:  0001104659-24-064306
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GSI Technology amends property sale; price cut to $11.65M, deposit becomes nonrefundable
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- Second amendment extended due diligence period by 5 days to May 22, 2024.
- Third amendment reduced purchase price by $200,000, from $11.85M to $11.65M.
- Buyer provided go-forward notice, waived termination rights, added $250,000 to escrow.
- Total deposit in escrow is $500,000, now nonrefundable except for seller default or casualty.
- Sale of Sunnyvale property (1213 Elko Drive) to D.R. Stephens & Company advances toward closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126741/000110465924064306/0001104659-24-064306-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126741/000110465924064306/tm2415311d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-064306

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