secwatch.observer — SEC 8-K summary
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Issuer:     Bimergen Energy Corp (BESS)
CIK:        0001066764
Form:       8-K
Filed at:   2022-04-04T23:59:59+00:00
Accession:  0001493152-22-008933
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 2.01, 3.02, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPIN completes reverse merger with Bitech Mining; Bitech holders to own ~96% of SPIN
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- SPIN issued 9M shares of Series A Convertible Preferred Stock to Bitech shareholders for 100% of Bitech's stock.
- Each Series A share converts into 53.975685 common shares (total ~485.8M common), giving Bitech holders ~96% fully diluted ownership.
- Bitech is a development-stage green tech company focused on power-saving solutions for crypto mining, with an exclusive license to Tesdison Technology patent.
- Legacy spine and video businesses to be evaluated for sale; management services agreement with Peter Dalrymple for 90 days.
- Peter Dalrymple's $95,000 secured note amended, due 90 days post-closing; obligations can be offset against Bitech-related liabilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1066764/000149315222008933/0001493152-22-008933-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1066764/000149315222008933/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-008933

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