secwatch.observer — SEC 8-K summary
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Issuer:     FORUM MARKETS Inc (FRMM)
CIK:        0001690080
Form:       8-K
Filed at:   2025-09-22T23:59:59+00:00
Accession:  0001213900-25-089862
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 3.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ETHZilla issues $350M convertible notes, repurchases 0.5M shares in week
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- New $350M principal convertible notes at 2% annual interest, issued at 97.25% of face value.
- Conversion price set at $3.05 per share, subject to downward reset; existing notes interest reduced from 4% to 2%.
- Notes secured by $50M in Ether and ~$500M in cash; maturity date August 8, 2028.
- Company repurchased ~0.5M shares at avg $2.41 during week ending Sept 20, total Sept repurchases ~6.45M shares.
- As of Sept 19: ETH holdings 102,264 (~$462M), cash equivalents ~$559M, total shares outstanding 160.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1690080/000121390025089862/0001213900-25-089862-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1690080/000121390025089862/ea0258188-8k_ethzilla.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-089862

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