secwatch.observer — SEC 8-K summary
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Issuer:     GridAI Technologies Corp. (GRDX)
CIK:        0001604191
Form:       8-K
Filed at:   2026-05-20T20:06:01+00:00
Accession:  0001104659-26-064500
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GridAI settles $1.03M debt with $800K cash and 71,482 common shares at $3.25/share
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- Settlement resolves $1,032,315 owed under Revolving Loan Agreement; avoids default demand.
- Cash payment of $800,000 covers principal ($700K) and $100K interest; 71,482 shares satisfy remaining $232,315 interest.
- Shares issued at $3.25 per share (5-day VWAP); lender releases all claims upon closing.
- Closing must occur within 10 days; otherwise agreement terminates and debt remains enforceable.
- Company had previously disclosed default demand letter from lender on April 1, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926064500/0001104659-26-064500-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926064500/tm2615206d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-064500

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