secwatch.observer — SEC 8-K summary
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Issuer:     SRAX, Inc. (—)
CIK:        0001538217
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001493152-24-012985
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 2.03, 2.04, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SRAX issues $90K convertible debenture at 20% OID, converts at $0.25, matures 2026
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- Sold $90,000 principal amount of 0% interest convertible debentures for $75,000 cash (20% original issue discount).
- Debentures mature March 29, 2026; conversion price $0.25 per share subject to standard adjustments.
- Company may prepay at 120% of principal within first 90 days, 135% thereafter; offering closed April 2, 2024.
- Issued in private placement to an accredited investor exempt from registration under Rule 506(b)/Section 4(a)(2).
- Customary events of default include payment default and change of control; principal becomes due immediately upon default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538217/000149315224012985/0001493152-24-012985-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538217/000149315224012985/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-012985

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