secwatch.observer — SEC 8-K summary
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Issuer:     GridAI Technologies Corp. (GRDX)
CIK:        0001604191
Form:       8-K
Filed at:   2026-09-11T20:43:26+00:00
Accession:  0001104659-26-107100
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GridAI amends Pronghorn convertible note, raises principal to $2.964M with $964K second loan
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- GridAI and Pronghorn entered Amended & Restated Secured Convertible Note on Sept 4, 2026, combining $2.0M first loan with $964,000 second advance, total principal $2,964,000.
- Note matures Dec 31, 2026 or upon a change of control transaction; interest accrues at 7% annually from maturity date.
- Upon event of default, note is convertible into Conversion Interests equal to 10% of Pronghorn's fully diluted capitalization.
- Parties also executed First Amendment to Security Agreement dated Sept 4, 2026, replacing the Note definition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926107100/0001104659-26-107100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926107100/tm2625284d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-107100

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer