secwatch.observer — SEC 8-K summary
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Issuer:     SRAX, Inc. (—)
CIK:        0001538217
Form:       8-K
Filed at:   2023-11-06T23:59:59+00:00
Accession:  0001493152-23-039577
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 2.04, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SRAX raises $460K via convertible debenture; senior lender converts $454K debt
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- $552K principal debentures sold at $460K (20% OID) to accredited investors; mature Nov 2024, 0% interest.
- Debentures convertible at $0.25/share, subject to 4.99% beneficial ownership limitation.
- Warrants to purchase up to 3.68M shares at $0.25/share (200% of conversion shares).
- Senior secured lender converted $454,202 owed into same note, receiving 3.63M warrants.
- Securities issued in private placement exempt from registration under Rule 506(b) and Section 4(a)(2).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538217/000149315223039577/0001493152-23-039577-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538217/000149315223039577/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-039577

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