High Wire Networks raises $1.0M via convertible debenture with 20% OID and secures up to $10M ELOC

HIGH WIRE NETWORKS, INC.

Sold $1.2M face value 20% OID Senior Secured Convertible Debenture for $1.0M; convertible at 75% of VWAP with $0.01 floor.
Issued Series F Preferred shares with stated value equal to 90% of debenture principal, convertible into common stock.
Secured $10M equity line of credit (ELOC) to sell common shares at 97% of lowest intraday price; issued 8,571,429 commitment shares.
Proceeds to be used for general working capital and listing expenses on a national securities exchange.
Placement agent Joseph Gunnar receives 8% commission and five-year warrants exercisable at $0.0299 per share.

item 1.01 item 5.03 item 2.03 item 3.02 item 3.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

HIGH WIRE NETWORKS, INC.: Designated Series F Preferred Stock with conversion rights, voting rights, and dividend restrictions (effective 2025-01-13).

Change: charter amendment
Effective: 2025-01-13

Exact text from the filing

The Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series F Preferred Stock of High Wire Networks, Inc. (the “COD”) with the Secretary of State of the State of Nevada on January 13, 2025.

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HIGH WIRE NETWORKS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-25-004346

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