home · filing · 0001104659-24-086824
8-K filed August 7, 2024, 7:59 PM ET
ticker GRDX
CIK 0001604191
other material
confidence high
sentiment negative
materiality 0.95
Entero Therapeutics faces $7M debt acceleration, board resignations, workforce cuts, R&D pause
GridAI Technologies Corp.
ImmunogenX subsidiary received default notice accelerating $6,997,583 in obligations under Credit Agreement.
Directors Charles Casamento and Terry Coelho resigned Aug 2; audit committee now non-compliant with Nasdaq Rule 5605(c)(2).
CEO James Sapirstein and President Jack Syage terminated; Sapirstein becomes consultant at $400/hour for 6 months.
Company terminated all non-essential employees, vacated Boca Raton office, and paused non-essential R&D activities.
Exploring strategic alternatives including capital raising, restructuring debt, and other options to maximize stakeholder value.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Effective 2024-08-02
Filed August 7, 2024, 7:59 PM ET
and (ii) the offer letter, dated March 13, 2024, by and between the Company and President Jack Syage
Effective 2024-08-02
Filed August 7, 2024, 7:59 PM ET
On August 2, 2024, Charles J. Casamento and Terry Coelho resigned as members of the Board of the Company, effective immediately.
Effective 2024-08-02
Filed August 7, 2024, 7:59 PM ET
the Board approved the termination of (i) the employment agreement, dated October 8, 2019, by and between the Company and Chief Executive Officer James Sapirstein
Effective 2024-08-02
Filed August 7, 2024, 7:59 PM ET
On August 2, 2024, Charles J. Casamento and Terry Coelho resigned as members of the Board of the Company, effective immediately.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jack Syage was terminated as President at GridAI Technologies Corp..
Action terminated
Role President
Exact text from the filing
and (ii) the offer letter, dated March 13, 2024, by and between the Company and President Jack Syage
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Charles J. Casamento resigned as Director at GridAI Technologies Corp..
Action resigned
Role Director
Exact text from the filing
On August 2, 2024, Charles J. Casamento and Terry Coelho resigned as members of the Board of the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
James Sapirstein was terminated as Chief Executive Officer at GridAI Technologies Corp..
Action terminated
Role Chief Executive Officer
Exact text from the filing
the Board approved the termination of (i) the employment agreement, dated October 8, 2019, by and between the Company and Chief Executive Officer James Sapirstein
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Terry Coelho resigned as Director at GridAI Technologies Corp..
Action resigned
Role Director
Exact text from the filing
On August 2, 2024, Charles J. Casamento and Terry Coelho resigned as members of the Board of the Company, effective immediately.
View on SEC.gov
Source: SEC EDGAR
accession 0001104659-24-086824
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.