---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-027111"
form_type: "8-K"
ticker: "FABC"
cik: "0001086745"
company_name: "Fabric.AI, Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T00:27:25.339157+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# AYRO raises $22M via convertible preferred stock and warrants from existing investors

## Summary
- Gross proceeds $22M from sale of 22,000 Series H-7 convertible preferred shares (stated value $1,000) and warrants for 22M common shares.
- Conversion/exercise price $1.00 per share, a ~39% premium to Aug 7 close of $0.72.
- Preferred shares carry 8% annual dividend, redeemable in 12 monthly installments starting Feb–Aug 2024/2025 at 105% of stated value or in stock.
- Net proceeds to fund development and manufacturing ramp of Vanish LSEV and general corporate purposes.
- Stockholder approval required for full conversion/warrant exercise; officers holding ~3.9% shares agree to vote in favor.

## SEC filing metadata
- accession: 0001493152-23-027111
- form_type: 8-K
- ticker: FABC
- cik: 0001086745
- company_name: Fabric.AI, Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1086745/000149315223027111/0001493152-23-027111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1086745/000149315223027111/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-027111
- JSON: https://secwatch.observer/filing/0001493152-23-027111.json
- Plain text: https://secwatch.observer/filing/0001493152-23-027111.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.