secwatch.observer — SEC 8-K summary
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Issuer:     GridAI Technologies Corp. (GRDX)
CIK:        0001604191
Form:       8-K
Filed at:   2026-07-23T20:01:55+00:00
Accession:  0001104659-26-086250
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GridAI lends $2M to Pronghorn Resources via secured convertible note due Dec 2026
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- GridAI made a $2M secured convertible loan to Pronghorn Resources, LLC on July 17, 2026.
- Note bears 7% annual interest, matures Dec 31, 2026 or upon change of control of Pronghorn.
- Upon uncured event of default, GridAI can convert the payment amount into 10% of Pronghorn's fully diluted membership interests.
- The note is secured by all of Pronghorn's assets under a separate security agreement.
- Pronghorn agreed to customary negative covenants including restrictions on additional indebtedness and liens.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926086250/0001104659-26-086250-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926086250/tm2620841d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-086250

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