8-K
filed February 28, 2023, 6:59 PM ET
CIK 0001700849
M&A
confidence high
sentiment neutral
materiality 0.90
Vado Corp. completes reverse merger with AudienceX, issues 96% of stock
Vado Corp.
- Issued 169,434,640 shares (96% of outstanding) to acquire all shares of Socialcom, Inc. (AudienceX).
- David Lelong resigned as sole officer; Jason Wulfsohn appointed CEO, Ryan Carhart CFO; Wulfsohn and Benaron join board.
- Secondary financing of $1.5M via Series A Convertible Preferred; first tranche $750K closed, second due May 25, 2023.
- Fiscal year end changed from Nov 30 to Dec 31 to align with AudienceX.
- 93M shares held by David Lelong cancelled; 22,793,540 options issued under 2023 Equity Incentive Plan.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jason Wulfsohn was appointed as Director at Vado Corp..
- Action
- appointed
- Role
- Director
Exact text from the filing
Effective at the Closing, the number of directors of the Company was fixed at three, and Jason Wulfsohn and Reeve Benaron were appointed to serve on the Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Reeve Benaron was appointed as Director at Vado Corp..
- Action
- appointed
- Role
- Director
Exact text from the filing
Effective at the Closing, the number of directors of the Company was fixed at three, and Jason Wulfsohn and Reeve Benaron were appointed to serve on the Board of Directors.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Vado Corp.: Company changed its fiscal year end from November 30 to December 31.
- Change
- fiscal year change
Exact text from the filing
the Company changed its fiscal year end from November 30 to December 31 as a result the Exchange to conform its fiscal year end to that of aX.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Vado Corp. entered into Share Exchange Agreement with Socialcom, Inc, d/b/a AudienceX, a California corporation ("aX") and the shareholders of aX signatory thereto (effective 2023-01-30).
- Action
- entry
- Agreement
- merger
- Counterparty
- Socialcom, Inc, d/b/a AudienceX, a California corporation ("aX") and the shareholders of aX signatory thereto
- Effective
- 2023-01-30
Exact text from the filing
Share Exchange Agreement (the “Exchange Agreement”) dated January 30, 2023 with Socialcom, Inc, d/b/a AudienceX, a California corporation (“aX”) and the shareholders of aX signatory thereto
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
Vado Corp. entered into Stock Purchase Agreement valued at $1,500,000.
- Action
- entry
- Agreement
- equity purchase
- Value
- $1,500,000
Exact text from the filing
execution of the Stock Purchase Agreement (the “SPA”) for a financing resulting in gross proceeds to the Company of $1,500,000 (the “Secondary Financing”)
View on SEC.gov
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