secwatch.observer — SEC 8-K summary
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Issuer:     Titan Environmental Solutions Inc. (—)
CIK:        0001514056
Form:       8-K
Filed at:   2023-01-06T23:59:59+00:00
Accession:  0001493152-23-000840
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TraQiQ acquires Renovare's digester business assets, restructures debt, disposes of three subsidiaries
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- Acquisition of aerobic digestion tech assets for food waste disposal; consideration: $150K cash + 1.25M Series B shares + 15.7M common shares.
- Exchanged $5.28M debt (incl. $3.24M from CEO Ajay Sikka) for 137,613 Series B and 21.25M common shares; assumed $3.02M Michaelson debt at 12% interest.
- Issued $180K OID note (20% OID, 10% interest, convertible at $0.015/share) to fund cash payment; new Series B Preferred convertible into 100 common shares.
- Sold equity interests in Mimo Technologies Private Ltd., TraQiQ Solutions Private Ltd., and Rohuma LLC for nominal consideration; assumed two PayPal loans of $155K.
- Michaelson Note ($3.02M) payable in five installments through Dec 2023; secured by all company personal property.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514056/000149315223000840/0001493152-23-000840-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514056/000149315223000840/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-000840

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