secwatch.observer — SEC 8-K summary
======================================

Issuer:     Data443 Risk Mitigation, Inc. (ATDS)
CIK:        0001068689
Form:       8-K
Filed at:   2023-03-23T23:59:59+00:00
Accession:  0001493152-23-008692
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Data443 amends SPA; issues 50x more shares to Nov 2022 investors, causing massive dilution
--------------------------------------------------------------------------------

- Original SPA from Nov 2022 sold 931,000 shares at $1.00 for ~$931K total.
- Amendment multiplies each investor’s shares by 50, issuing ~46.55M additional shares.
- No new cash proceeds; investors release all claims against the company.
- Shares issued under Section 4(a)(2) and Rule 506; not registered and subject to piggyback rights.
- Dilution to existing holders is material; prior $1.00 price implied per-share value now 1/50th.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1068689/000149315223008692/0001493152-23-008692-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1068689/000149315223008692/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-008692

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer