secwatch.observer — SEC 8-K summary
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Issuer:     Atlas Lithium Corp (ATLX)
CIK:        0001540684
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001493152-23-039825
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Atlas Lithium issues $20M convertible notes at 6.5% interest, conversion price $28.225
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- $20M aggregate principal, 6.5% annual interest, 36-month maturity, closing by Nov 24, 2023.
- Conversion price $28.225 per share (25% premium to 3-day VWAP prior to agreement).
- Issued to Martin Rowley and other accredited investors in a private placement under Regulation D.
- Company may redeem after first anniversary if stock price reaches 125% of conversion price.
- Proceeds provide working capital for lithium project development and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1540684/000149315223039825/0001493152-23-039825-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1540684/000149315223039825/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-039825

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