secwatch.observer — SEC 8-K summary
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Issuer:     Digerati Technologies, Inc. (DTGI)
CIK:        0001014052
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001213900-23-046188
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digerati and MEOA amend merger deal: deadline extended to June 15, note cap raised to $3.5M
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- Termination date extended from May 30 to June 15, 2023; Digerati no longer obligated to fund MEOA extension costs.
- Cap on convertible promissory notes increased from $2M to $3.5M, issuable for working capital and transaction expenses.
- Post-merger board set at 7 directors in three classes; Ernest Cunningham and Scott Crist join board; Shawn Rochester on strategic advisory committee.
- Surviving company renamed to 'Verve Technologies Corporation' instead of 'Digerati Holdings, Inc.'
- Lock-up agreements now required only from Arthur Smith, Craig Clement, Antonio Estrada, and Post Road funds; other stockholders removed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014052/000121390023046188/0001213900-23-046188-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014052/000121390023046188/ea179767-8k425_digerati.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-046188

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