secwatch.observer — SEC 8-K summary
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Issuer:     SCWorx Corp. (WORX)
CIK:        0001674227
Form:       8-K
Filed at:   2024-07-16T23:59:59+00:00
Accession:  0001213900-24-061487
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SCWorx issues $1.155M senior secured convertible notes and warrants, settles $502K arbitration award with stock
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- Aggregate $1,155,000 principal in senior secured convertible notes sold to accredited investors; initial conversion price $1.43/share.
- Warrants to acquire up to 4,846,158 shares at $1.43 (Series A) and $1.573 (Series B/C), exercisable for 5 years.
- Proceeds: $825,000 cash plus exchange of $330,000 bridge note; used for working capital and expenses.
- $502,000 arbitration award satisfied by common stock issuance; vendor included in registration statement.
- Notes mature Jan 15, 2025 or Dec 31, 2025 depending on filing and Nasdaq compliance; interest 10% (18% default).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024061487/0001213900-24-061487-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024061487/ea0209459-8k_scworx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-061487

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