secwatch.observer — SEC 8-K summary
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Issuer:     XERIANT, INC. (XERI)
CIK:        0001481504
Form:       8-K
Filed at:   2021-11-04T23:59:59+00:00
Accession:  0001477932-21-007820
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Xeriant raises $5.14M net from $6.05M secured note to Auctus Fund; issues 50.97M warrants
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- Principal $6,050,000; net proceeds $5,142,500 after original-issue discount of $907,500 and fees.
- Note convertible at lesser of $0.1187 or 75% of future public-offering price; 12-month term.
- Warrant to buy 50,968,828 shares at $0.1187, 5-year term, full-ratchet anti-dilution protection.
- Note secured by first-priority security interest on all Company assets.
- Maxim Group LLC acted as exclusive placement agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/0001477932-21-007820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1481504/000147793221007820/xeri_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-21-007820

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