secwatch.observer — SEC 8-K summary
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Issuer:     CEMTREX INC (CETX)
CIK:        0001435064
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001493152-24-017351
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cemtrex signs standstill with Streeterville; must pay 50% of equity proceeds or $4M
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- Streeterville agrees to one-year redemption standstill on two notes ($5.755M Sep-2021 and $9.205M Feb-2022) conditional on at least $9M financing by May 10, 2024.
- Cemtrex must pay the greater of $4M or 50% of net proceeds from any equity sale during the standstill period, applied to the notes.
- If the financing closes by May 10, maturity dates extend to June 30, 2025 (Sep note) and Feb 22, 2026 (Feb note).
- If financing does not close by May 10, the agreement automatically terminates and is void ab initio.
- Standstill ends immediately on any breach; Streeterville may then enforce all remedies under the notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1435064/000149315224017351/0001493152-24-017351-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1435064/000149315224017351/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-017351

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