secwatch.observer — SEC 8-K summary
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Issuer:     VIVIC CORP. (VIVC)
CIK:        0001703073
Form:       8-K
Filed at:   2023-05-30T23:59:59+00:00
Accession:  0001493152-23-019472
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vivic Corp. converts $1.1M debt into 1.1M common shares at $0.99/share
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- Converted $1,100,000 debt owed to Yun-Kuang Kung into 1,111,111 shares of common stock at $0.99 per share.
- Shares issued in reliance on Regulation D/S exemptions; Kung is accredited non-US investor.
- Reduces debt by $1.1M but increases share count by 1.1M, causing shareholder dilution.
- Transaction closed May 26, 2023; no other material terms disclosed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1703073/000149315223019472/0001493152-23-019472-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1703073/000149315223019472/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-019472

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