secwatch.observer — SEC 8-K summary
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Issuer:     IronNet, Inc. (—)
CIK:        0001777946
Form:       8-K
Filed at:   2023-09-01T23:59:59+00:00
Accession:  0001193125-23-226532
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

IronNet issues $800K secured notes to directors for payroll and potential bankruptcy costs; director resigns
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- Issued $800K secured promissory notes at 13.8% to directors Tighe and Dixon for payroll and bankruptcy preparation.
- Proceeds used first for unpaid employee payroll, then up to $100K for potential bankruptcy filing, then D&O tail insurance.
- Notes secured by substantially all assets excluding IP; maturity one year.
- Director Mary Gallagher resigned from Board and Audit Committee effective immediately; no disagreement cited.
- Company discloses severe cash constraints; notes suggest imminent bankruptcy planning.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1777946/000119312523226532/0001193125-23-226532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1777946/000119312523226532/d535020d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-226532

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