secwatch.observer — SEC 8-K summary
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Issuer:     Metalert, Inc. (—)
CIK:        0001375793
Form:       8-K
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0001493152-23-036608
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MetAlert enters Securities Purchase Agreement for up to $300,000 private placement of Series D Preferred Stock
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- Investor Carl La Rue to purchase up to 75,000 Series D Preferred shares in three tranches totaling $300,000.
- First tranche of 15,000 shares sold for $100,000 on Sept 28, 2023; second tranche of 25,000 shares due by Jan 15, 2024; third tranche of 35,000 shares due by Mar 15, 2024.
- Series D Preferred Stock is convertible into common stock at 100:1 after one year, with 4.99% beneficial ownership cap (waivable to 9.99%).
- Series D Preferred has no voting rights, no dividends, and ranks pari passu with common on liquidation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1375793/000149315223036608/0001493152-23-036608-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1375793/000149315223036608/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-036608

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