secwatch.observer — SEC 8-K summary
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Issuer:     XTI Aerospace, Inc. (XTIA)
CIK:        0001529113
Form:       8-K
Filed at:   2022-12-30T23:59:59+00:00
Accession:  0001213900-22-084113
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inpixon issues $8.4M unsecured promissory note to Streeterville Capital at 10% interest, netting $6.5M
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- Issued $8.4M unsecured promissory note due 12 months; net proceeds $6.5M after $1.885M OID and $15k fees.
- Interest accrues at 10% p.a.; default rate 22%. Prepayment penalty of 115% of outstanding amount.
- After 6 months, holder may redeem 1/6 of initial principal monthly; 10% monitoring fee added if note still outstanding at 6 months.
- Mandatory prepayment of 25% of amount raised in any future equity offering until note is paid.
- Streeterville gets participation right in up to 10% of any future financing until note is fully paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529113/000121390022084113/0001213900-22-084113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529113/000121390022084113/ea171016-8k_inpixon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-084113

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