secwatch.observer — SEC 8-K summary
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Issuer:     Digerati Technologies, Inc. (DTGI)
CIK:        0001014052
Form:       8-K
Filed at:   2023-02-09T23:59:59+00:00
Accession:  0001213900-23-009834
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digerati enters Fourth Amendment with Post Road, consents to SPAC merger and bridge loans
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- Post Road consents to Digerati's merger with SPAC MEOA, contingent on bridge loan repayment at closing.
- Amendment allows up to $3M in convertible bridge loans to fund working capital and merger expenses.
- Post Road waives existing defaults only if Merger closes by February 28, 2023.
- Six financial covenants revised; only minimum liquidity tested for Q ended Jan 31, 2023.
- Mandatory prepayment requires 50% of bridge loan payments to repay Post Road notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014052/000121390023009834/0001213900-23-009834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014052/000121390023009834/ea172957-8k_digerati.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-009834

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