secwatch.observer — SEC 8-K summary
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Issuer:     AURA SYSTEMS INC (AUSI)
CIK:        0000826253
Form:       8-K
Filed at:   2022-03-18T23:59:59+00:00
Accession:  0001213900-22-013549
Event type: litigation
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aura Systems settles litigation with former director; pays $10M, issues 3.3M warrants
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- Agreed to pay $10 million over seven years, with $3 million due within three months; 6% interest on unpaid balance.
- Issues seven-year warrants for up to 3.3 million shares at $0.85 per share to the Kopple parties.
- Settlement resolves claims exceeding $13 million in loans and 23 million warrants originally sought in 2017 litigation.
- No admission of fault; mutual release of claims; company may prepay without penalty.
- All amounts must be paid within eight years; if uncured default, plaintiffs can enter judgment against Aura.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/826253/000121390022013549/0001213900-22-013549-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/826253/000121390022013549/ea157111-8k_aura.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-013549

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