secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001493152-24-008787
Event type: m_and_a
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kustom Entertainment acquires Country Stampede festival; Digital Ally issues $1.425M note
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- Acquired Country Stampede Music Festival for $542,959; $400k paid at closing, remainder within 30 days.
- Issued $1.425M senior secured promissory note; net proceeds $1M; interest 1.58% per month.
- Note matures Nov 1, 2024 or upon merger of Kustom Entertainment with Clover Leaf Capital.
- Repayment from 50% of Kustom ticket revenues (up to 9k tickets) then 10% until maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224008787/0001493152-24-008787-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224008787/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-008787

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