secwatch.observer — SEC 8-K summary
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Issuer:     Piermont Valley Acquisition Corp (CMCAF)
CIK:        0001865248
Form:       8-K
Filed at:   2026-10-02T20:30:31+00:00
Accession:  0001477932-26-006019
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Piermont Valley SPAC signs $5M PIPE with Capstan Point for Tigerless merger
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- PIPE: 5,000 Series A Convertible Preferred shares at $1,000 stated value ($5.0M total), funded in two tranches — $3.5M at first closing, $1.5M on the 90th business day after Closing.
- Conversion price is the lower of $10.00 or 93% of 5-day lowest VWAP, with initial $2.00 floor; at $10.00 converts to 550,000 shares, at $2.00 to roughly 2,750,000 shares.
- Floor price auto-resets lower every six months (to 20% of recent closes) once shares are freely tradable, potentially increasing dilution further.
- Existing Tigerless/Piermont holders must transfer 2,000,000 Pubco Class A shares to investor Capstan Point as a one-time closing fee, capped at 4.99% beneficial ownership.
- Pubco must file a resale registration within 30 days of first closing; missed deadlines trigger 5% liquidated damages plus 5% per 30 days, with 18% interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1865248/000147793226006019/0001477932-26-006019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1865248/000147793226006019/cmca_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-26-006019

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