CID HoldCo furloughs all employees, executives defer salaries; issues $287.5K convertible note at 20% OID

CID Holdco, Inc.

Temporary furlough of all employees effective May 25, 2026 to preserve liquidity while evaluating financing options.
CEO, CFO, CTO salaries reduced to state minimum; CRO reduced 50%; all deferred base salaries effective May 29, 2026.
Issued $287,500 senior secured convertible note to White Lion Capital for net cash of $230,000 (20% OID).
Note bears 8% interest, matures in 6 months; conversion price at 80% of lowest VWAP over 15 trading days.
Furlough and salary deferrals may materially impact operations, revenues, and operating results.

Featured in Daily 8-K Digest

Selected #9 for 2026-05-29. Read digest

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same SEC item: 3.02, 8.01 same event type: other_material similar materiality

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zSpace, Inc. June 1, 2026, 8:00 AM ET other_material Items 1.01, 1.02, 2.03, 3.02, 5.03, 9.01

same SEC item: 2.03, 3.02 same event type: other_material similar materiality

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FortuneX Acquisition Corp May 29, 2026, 5:32 PM ET other_material Items 1.01, 3.02, 5.02, 5.03, 9.01

same SEC item: 3.02, 5.02 same event type: other_material similar materiality

IDEAYA's darovasertib combo meets primary endpoint in Phase 2/3 OptimUM-02 trial for metastatic uveal melanoma

IDEAYA Biosciences, Inc. June 1, 2026, 4:05 PM ET other_material Items 7.01, 8.01, 9.01