secwatch.observer — SEC 8-K summary
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Issuer:     Eightco Holdings Inc. (ORBS)
CIK:        0001892492
Form:       8-K
Filed at:   2024-02-26T23:59:59+00:00
Accession:  0001493152-24-007829
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eightco raises ~$0.81M in private placement, repays Hudson Bay note early, CEO departs with $422k severance
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- Private placement of 987,807 shares at $0.82/share for ~$0.81M gross proceeds.
- Final repayment of Hudson Bay convertible note of $365,000 ahead of schedule.
- CEO Brian McFadden resigned; severance of $422,500 plus accrued salary; remains director until March 31.
- Kevin O'Donnell appointed Interim CEO; Brett Vroman continues as CFO via consulting at $10k/month.
- Company issued shares for warrant buyout, consultant fees, and director compensation; total diluted shares ~8.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892492/000149315224007829/0001493152-24-007829-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892492/000149315224007829/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-007829

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