bowmo to acquire OWNverse in stock-and-note deal valued at up to $4.27M

bowmo, Inc.

Merger consideration: 2,000 Series I Preferred shares ($2,000,000 stated value), $2M in 2-year notes, and up to $270,000 in 6-month notes.
Closing expected by March 31, 2024, subject to customary conditions and approvals.
Aleksei Shestakov to be appointed to bowmo's board of directors upon closing.
Series I Preferred has $1,000 stated value, votes as-converted, and converts after one year into 0.005% of outstanding common per share.
OWNverse will become a wholly-owned subsidiary; bowmo's existing board remains unchanged.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

bowmo, Inc. entered into Merger Agreement with OWNverse, LLC (effective 2024-03-22).

Action: entry
Agreement: merger
Counterparty: OWNverse, LLC
Effective: 2024-03-22

Exact text from the filing

On March 22, 2024, bowmo, Inc. (the “Company”) entered into a Plan and Agreement of Merger (the “Merger Agreement”) with OWNverse, LLC, a Delaware limited liability company (“OWNverse”)

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Source: SEC EDGAR

accession 0001213900-24-026169

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