secwatch.observer — SEC 8-K summary
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Issuer:     Amergent Hospitality Group Inc. (—)
CIK:        0001805024
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0001493152-23-003340
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 5.03, 3.02, 3.03
LLM model:  deepseek-v4-flash:cloud@v2

Amergent closes $2.5M private placement of preferred units; creates Series B Convertible Preferred
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- Sold 125 units at $20,000 each for $2.5M gross; each unit includes Series A Preferred share and warrant for 10,000 common shares.
- Warrants exercisable at $1.00/share for 10 years; subject to 4.99% beneficial ownership cap.
- Authorized up to 400 shares of Series B Preferred, stated value $20,000, convertible at $0.50/share, 12% cumulative dividend.
- Net proceeds to be used for acquisition of Boudreaux's Cajun Kitchen and future growth initiatives.
- Series B Preferred redeemable at increasing prices: $25,000 (2023), $30,000 (2024), $35,000 (2025) per share plus accrued dividends.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805024/000149315223003340/0001493152-23-003340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805024/000149315223003340/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-003340

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