---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-007413"
form_type: "8-K"
ticker: "YYAI"
cik: "0001674440"
company_name: "AIRWA INC."
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T22:09:49.352454+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Connexa Sports modifies $3.2M note, conversion price set at $0.32; subsidiary guarantees up to $6M

## Summary
- Waiver of defaults under loan agreement, registration rights agreement, and inducement letter as of Feb 21, 2024.
- Note conversion price set at $0.32 per share; up to 9,991,674 shares issuable upon conversion of $3,197,335.65 owed.
- Lender's warrants repriced to $0.16 per share subject to shareholder approval by May 3, 2024; meetings every 60 days if not obtained.
- Slinger Bag Americas must fund $2M escrow within 10 weeks and guarantee up to $6M difference between guaranteed amount and proceeds.
- Company must file S-1 registration statement within 5 business days (by Feb 28) and seek effectiveness within 30 days.

## SEC filing metadata
- accession: 0001493152-24-007413
- form_type: 8-K
- ticker: YYAI
- cik: 0001674440
- company_name: AIRWA INC.
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674440/000149315224007413/0001493152-24-007413-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674440/000149315224007413/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-007413
- JSON: https://secwatch.observer/filing/0001493152-24-007413.json
- Plain text: https://secwatch.observer/filing/0001493152-24-007413.txt

## Key facts
- Material Agreements
  AIRWA INC. amended Waiver, Warrant Amendment and Second Loan and Security Modification Agreement with certain institutional investors (the Lenders) and a certain institutional investor, as agent for the Lenders (the Agent) (effective 2024-02-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: certain institutional investors (the Lenders) and a certain institutional investor, as agent for the Lenders (the Agent)
  - Effective: 2024-02-21
  source text: On February 21, 2024, the Company and the Lenders and the Agent entered into a Waiver, Warrant Amendment and Second Loan and Security Modification Agreement (the “Waiver, Amendment, and Modification Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674440/000149315224007413/0001493152-24-007413-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.