secwatch.observer — SEC 8-K summary
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Issuer:     AIxCrypto Holdings, Inc. (AIXC)
CIK:        0001460702
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001493152-24-007928
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Qualigen issues $550K 8% convertible debenture, warrants; CMO resigns
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- Issued $550,000 principal 8% Convertible Debenture to Alpha Capital for $500,000 cash; due Dec 31, 2024; convertible at $0.6111/sh.
- Issued 5-year warrant to Alpha for 900,016 shares at $0.26/sh; triggers ratchet anti-dilution adjustments on existing instruments.
- Alpha has option to purchase additional $1.1M debentures plus 1.8M warrants for $1M cash, exercisable until July 1, 2024.
- Ratchet adjustments: existing Alpha debenture convertible into 4.6M shares (from 1.6M); Series C warrants become exercisable for 1.28M shares at $0.26.
- Tariq Arshad resigned as SVP/Chief Medical Officer effective February 25, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1460702/000149315224007928/0001493152-24-007928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1460702/000149315224007928/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-007928

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