secwatch.observer — SEC 8-K summary
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Issuer:     Onar Holding Corp (ONAR)
CIK:        0001682265
Form:       8-K
Filed at:   2025-06-12T23:59:59+00:00
Accession:  0001477932-25-004534
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ONAR Holding raises $500K in Series E Preferred private placement, convertible at 75% of market price
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- On June 6, 2025, entered Subscription Agreements to sell 500 Series E Preferred shares at $1,000 face value for $500,000 initial proceeds; total offering up to $6M.
- Series E Preferred converts into common stock after authorized shares increased by 150M; conversion price = 75% of prior-day closing market price.
- Annual reset of conversion price to current market price if below conversion price, floor $0.01; anti-dilution adjustment for new issuances below conversion price.
- Series E accrues 8% annual dividends payable in common shares upon conversion; liquidation preference treats as converted to common.
- Offering exempt from registration under Section 4(a)(2)/Reg D; shares not registered under Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682265/000147793225004534/0001477932-25-004534-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682265/000147793225004534/onar_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-004534

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