secwatch.observer — SEC 8-K summary
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Issuer:     TurnOnGreen, Inc. (TOGI)
CIK:        0001349706
Form:       8-K
Filed at:   2025-10-29T23:59:59+00:00
Accession:  0001214659-25-015513
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TurnOnGreen enters up to $1.5M convertible note financing with SJC Lending; 12% interest, 20% discount conversion
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- Total principal amount up to $1.65M; initial tranche of $440K principal ($400K cash) issued at closing on October 29, 2025.
- Notes bear 12% interest (20% upon default), mature one year; conversion price is greater of $0.035 or 20% discount to lowest 10-day VWAP.
- Company grants security interests on substantially all assets and pledges subsidiary stock as collateral via IP, Security, and Pledge Agreements.
- Covenants restrict dividends, additional debt, asset sales, and variable-rate transactions; SJC gets right of first refusal on future equity offerings for one year.
- Proceeds intended for general corporate purposes; offering exempt under Section 4(a)(2) of the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1349706/000121465925015513/0001214659-25-015513-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1349706/000121465925015513/i10292518k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-25-015513

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