secwatch.observer — SEC 8-K summary
======================================

Issuer:     HIGH WIRE NETWORKS, INC. (HWNI)
CIK:        0001413891
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0001213900-23-055575
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

High Wire Networks acquires software IP from John Peterson for $100K milestone payments and 20% equity in new entity
--------------------------------------------------------------------------------

- Company purchases certain software assets from John Peterson for $100,000 payable in $25,000 installments upon achieving specified milestones.
- Peterson receives 20% ownership in a new entity (NewCo) to hold the assets; HWNI owns the remaining 80%.
- Peterson gets a $2 million liquidation preference for up to 18 months post-closing if NewCo valuation is under $20 million.
- Peterson will become an employee of High Wire Networks as part of the agreement.
- The IP includes a browser plug-in for anti-phishing and other software, subject to representations and warranties.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413891/000121390023055575/0001213900-23-055575-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413891/000121390023055575/ea181412-8k_highwire.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-055575

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