secwatch.observer — SEC 8-K summary
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Issuer:     Damon Inc. (DMNIF)
CIK:        0002000640
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0001213900-24-111506
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Damon Inc. enters $10M prepaid purchase deal with Streeterville Capital; initial $2M funded
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- Issued 343,053 commitment shares; initial prepaid purchase of $2M carries 7% OID and 8% interest.
- Proceeds for working capital; $100K plus 15% of subsequent fundings to repay June 2024 secured promissory note (~$6.47M).
- Investor can buy common shares at lower of $1.50 or 90% of 10-day VWAP (floor at 20% of Nasdaq Minimum Price).
- Monthly cash repayments of $350K if VWAP below floor for 5 of 7 trading days or 75% of Exchange Cap issued.
- Company must seek shareholder approval; if not obtained, any balance above Exchange Cap must be repaid in cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2000640/000121390024111506/0001213900-24-111506-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2000640/000121390024111506/ea0225670-8k_damon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-111506

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