---
schema_version: "secwatch.filing_event.v1"
accession: "0001387131-23-008364"
form_type: "8-K"
ticker: "DROR"
cik: "0001282980"
company_name: "Dror Ortho-Design, Inc."
filed_at: "2023-07-11T23:59:59+00:00"
generated_at: "2026-06-13T09:49:54.364662+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Novint enters share exchange to acquire Dror Ortho-Design; each Dror share exchanged for 1.05B preferred shares

## Summary
- Each Dror ordinary share exchanged for 1,048,585,364 shares of Novint Series A Convertible Preferred Stock.
- Dror options and Series A-4 warrants converted into options/warrants for Novint common stock at $0.033 exercise price.
- Closing conditioned on Private Placement raising at least $5M; expected within 3 business days after conditions met.
- Certain Dror shareholders subject to Lock-Up Agreement: no transfers for 24 months after closing or 12 months after uplisting.
- Dror becomes wholly owned subsidiary; exchange intended as tax-deferred under Section 351 of the Internal Revenue Code.

## SEC filing metadata
- accession: 0001387131-23-008364
- form_type: 8-K
- ticker: DROR
- cik: 0001282980
- company_name: Dror Ortho-Design, Inc.
- filed_at: 2023-07-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1282980/000138713123008364/0001387131-23-008364-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1282980/000138713123008364/novint-8k_070523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001387131-23-008364
- JSON: https://secwatch.observer/filing/0001387131-23-008364.json
- Plain text: https://secwatch.observer/filing/0001387131-23-008364.txt

## Key facts
- Material Agreements
  Dror Ortho-Design, Inc. entered into Share Exchange Agreement with Dror Ortho-Design Ltd. valued at Share exchange for 1,048,585,364 shares of Preferred Stock; assumption of Dror's outstanding share o (effective 2023-07-05).
  - Action: entry
  - Agreement: merger
  - Counterparty: Dror Ortho-Design Ltd.
  - Value: Share exchange for 1,048,585,364 shares of Preferred Stock; assumption of Dror's outstanding share o
  - Effective: 2023-07-05
  source text: On July 5, 2023, Novint Technologies, Inc. (the “ Company ”) entered into a Share Exchange Agreement (the “ Exchange Agreement ”) by and among the Company, Dror Ortho-Design Ltd., a company incorporated under the laws of the State of Israel (“ Dror ”) and the shareholders of Dror.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1282980/000138713123008364/0001387131-23-008364-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.