secwatch.observer — SEC 8-K summary
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Issuer:     TurnOnGreen, Inc. (TOGI)
CIK:        0001349706
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0001214659-24-013383
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TurnOnGreen enters $25M equity line with GCEF Opportunity Fund
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- Signed ELOC Purchase Agreement with GCEF for up to $25M of common stock over 36 months.
- Shares sold at 90% of avg daily closing price during 30-day pricing period; draw limited to 400% of 30-day avg volume.
- Commitment fee of 2% of Aggregate Limit in shares/cash; warrant for 2% of outstanding shares at strike = closing price on listing date.
- Company controls timing and amount of draws; GCEF covenant not to short or hedge.
- Minimum price threshold $0.01; beneficial ownership cap 4.99% per draw.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1349706/000121465924013383/0001214659-24-013383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1349706/000121465924013383/p73024138k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-013383

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