secwatch.observer — SEC 8-K summary
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Issuer:     CID Holdco, Inc. (DAIC)
CIK:        0002033770
Form:       8-K
Filed at:   2026-04-20T23:59:59+00:00
Accession:  0001213900-26-045664
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CID Holdco enters up to $10M equity line and $2.875M convertible note with White Lion Capital
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- Common stock purchase agreement allows CID to sell up to $10M of stock to White Lion through Dec 2028.
- Senior secured convertible note: up to $2.875M principal (20% OID, $2.3M net proceeds), 8% interest, 6-month tranches.
- Conversion price set at 80% of lowest 15-day VWAP; default conversion drops to $0.01 per share.
- Stockholder approval required by May 15, 2026; failure triggers $250K liquidated damages and default under note.
- Notes secured by all assets (second lien subordinated to J.J. Astor loan); proceeds used for J.J. Astor payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2033770/000121390026045664/0001213900-26-045664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2033770/000121390026045664/ea0286876-8k_cidhold.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-045664

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