secwatch.observer — SEC 8-K summary
======================================

Issuer:     FiEE, Inc. (FIEE)
CIK:        0001467761
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001493152-24-003710
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Minim settles $15.9M Motorola debt via inventory transfer; raises $2.8M from board member Lazar
--------------------------------------------------------------------------------

- Minim transfers inventory and support software to Motorola to settle at least $15.9M in guaranteed minimum royalties.
- Motorola will not pay cash; reduction of owed GMR is the sole consideration for the transferred products.
- Minim raises $2.8M by selling 2.8M Series A preferred shares at $1.00 each to board member David Lazar.
- Shares are convertible into common with full ratchet adjustment; Lazar also receives warrant for 2.8M shares at $1.00.
- Closing requires shareholder approval of 1-for-3 reverse stock split, increase in authorized preferred to 10M shares, and other charter amendments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1467761/000149315224003710/0001493152-24-003710-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1467761/000149315224003710/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-003710

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