secwatch.observer — SEC 8-K summary
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Issuer:     CREATIVE REALITIES, INC. (CREX)
CIK:        0001356093
Form:       8-K
Filed at:   2022-02-18T23:59:59+00:00
Accession:  0001213900-22-008352
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 2.01, 3.02, 5.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Creative Realities closes acquisition of Reflect Systems; issues $10M term loan and consolidates debt
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- Merger with Reflect Systems closed Feb 17, 2022; Reflect now wholly owned subsidiary of Creative Realities.
- Total consideration: $18.67M cash, 2.33M shares of CRI stock, and contingent cash based on future stock price.
- New $10M term loan at 8% interest (50% warrant coverage) and consolidation of $7.185M existing loans at 10% (75% warrant coverage).
- CEO Rick Mills' base salary increased to $450,000; CFO Will Logan to $350,000 plus $75,000 bonus.
- Shareholders approved Retention Bonus Plan and share issuance proposals at Feb 15 special meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1356093/000121390022008352/0001213900-22-008352-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1356093/000121390022008352/ea155906-8k_creative.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-008352

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