secwatch.observer — SEC 8-K summary
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Issuer:     AIRWA INC. (YYAI)
CIK:        0001674440
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001493152-24-007413
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674440/000149315224007413/0001493152-24-007413-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674440/000149315224007413/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-007413

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