secwatch.observer — SEC 8-K summary
======================================

Issuer:     GridAI Technologies Corp. (GRDX)
CIK:        0001604191
Form:       8-K
Filed at:   2026-10-07T20:01:18+00:00
Accession:  0001104659-26-114342
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

GridAI adds $536K third advance to Pronghorn note; aggregate principal $3.5M, convertible into 10% of Pronghorn
--------------------------------------------------------------------------------

- Third advance of $536,000 to Pronghorn Resources, LLC; prior advances were $2,000,000 (July 17, 2026) and $964,000 (Sept. 4, 2026), bringing aggregate principal to $3,500,000.
- Principal due on the earlier of Dec. 31, 2026 or a Change of Control Transaction; 7% annual interest accrues from the Maturity Date and is payable in cash.
- On an uncured Event of Default, GridAI may convert the Payment Amount into membership interests equal to 10% of Pronghorn's fully diluted capitalization.
- Second Amendment to Security Agreement amends the 'Note' definition to reference the Second Amended Note; loan remains secured by Pronghorn assets under the July 17, 2026 Security Agreement.
- Pronghorn agreed to use proceeds per Schedule B and is barred from new debt or liens beyond Permitted Indebtedness/Liens without GridAI's consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926114342/0001104659-26-114342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604191/000110465926114342/tm2627109d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-114342

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