secwatch.observer — SEC 8-K summary
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Issuer:     TruGolf Holdings, Inc. (TRUG)
CIK:        0001857086
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001493152-24-005259
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TruGolf enters up to $15.5M PIPE financing with convertible notes and warrants
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- Initial closing of $4.65M aggregate principal convertible notes at 10% OID for $4.185M gross proceeds; up to $15.5M total.
- Notes bear 10% interest (15% if paid in stock), convertible at $10/share, with downside price adjustments and 25% redemption premium on default.
- Series A warrants (5yr, $13 strike) and Series B warrants (30mo, $10 strike) issued; exercise prices subject to automatic adjustments.
- Company files registration statement for resale of underlying shares within 30 days; stockholder vote required for full conversion/exercise under Nasdaq rules.
- Agreement supersedes prior loan agreements from Nov/Dec 2023; existing investors participate along with new PIPE investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1857086/000149315224005259/0001493152-24-005259-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1857086/000149315224005259/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-005259

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