secwatch.observer — SEC 8-K summary
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Issuer:     SCWorx Corp. (WORX)
CIK:        0001674227
Form:       8-K
Filed at:   2025-01-23T23:59:59+00:00
Accession:  0001213900-25-005655
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SCWorx raises $1.5M via secured convertible notes and warrants
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- Issued $1.5M senior secured convertible notes (10% interest, maturity Jan 21, 2027) to accredited investors.
- Warrants for up to 7.2M shares: Series A at $1.25, Series B/C at $1.375, exercisable for 5 years.
- Notes secured by first-priority lien on substantially all assets; full-ratchet anti-dilution on conversion price.
- Proceeds for operating expenses and working capital; company previously missed registration deadline, incurring penalties.
- Shareholder approval required under Nasdaq Rule 5635 for warrant share issuance beyond 4.5M previously authorized.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674227/000121390025005655/0001213900-25-005655-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674227/000121390025005655/ea0228451-8k_scworx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-005655

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