I-ON Digital Corp. (IONI): M&A transaction — I-On Digital changes control: IAC holds 58.9% voting stake after note payment

I-ON Digital Corp.

IAC paid $250,000 promissory note in full; Series A and Series B Preferred Shares released on Jan 20, 2023.
IAC now holds 58.9% of total outstanding voting capitalization, triggering change of control.
Existing officers and directors expected to resign; IAC management to be appointed upon filing of Form 10-Q/A.
Company's business focuses on digitization of precious metals and asset-based digital securities on blockchain.

item 2.01 item 5.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

I-ON Digital Corp. completed an acquisition involving I-ON Acquisition Corp. for $250,000 (closed 2023-01-20).

Action: acquisition
Counterparty: I-ON Acquisition Corp.
Consideration: $250,000
Closing: 2023-01-20

Exact text from the filing

IAC acquired 3,000 shares of a newly created Series A Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred”) for proceeds in the amount of $250,000 (the “Subscription Amount”) in the form of a promissory note (the “Note”) which is secured by the pledge of the Series A Shares, the Series B Shares (as defined herein) and other

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I-ON Digital Corp. filing history →

Source: SEC EDGAR

accession 0001140361-23-002433

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