{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-017629","form_type":"8-K","ticker":null,"cik":"0001106838","company_name":"Sonnet BioTherapeutics Holdings, Inc.","filed_at":"2024-05-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.305443+00:00","generated_at":"2026-06-02T22:53:10.631340+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Sonnet enters $25M ChEF equity facility with Chardan; 4% VWAP discount, 36-month term","bullets":["Up to $25M aggregate gross purchase price of common stock under ChEF Purchase Agreement with Chardan Capital Markets.","Shares sold at a fixed 4.0% discount to VWAP; Company controls timing and amount of draws.","36-month investment period; $100K initial + $150K six-month commitment fees; Exchange Cap of 622,168 shares (19.99% of outstanding).","Proceeds for R&D, clinical trials, working capital; no short sale or hedging by Chardan prior to agreement.","Company may terminate at any time after commencement with 10 trading days' notice."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-017629","json":"https://secwatch.observer/filing/0001493152-24-017629.json","markdown":"https://secwatch.observer/filing/0001493152-24-017629.md","text":"https://secwatch.observer/filing/0001493152-24-017629.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1106838/000149315224017629/0001493152-24-017629-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1106838/000149315224017629/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T22:53:10.631340+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"76cb246a444dd56e2f431fff40835186db421ee2","claim":"Sonnet BioTherapeutics Holdings, Inc. entered into ChEF Purchase Agreement with Chardan Capital Markets LLC valued at $25,000,000 in aggregate gross purchase price (effective 2024-05-02).","evidence_excerpt":"On May 2, 2024, Sonnet BioTherapeutics Holdings, Inc., a Delaware corporation (the “Company”) entered into a ChEF Purchase Agreement (the “Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”), each with Chardan Capital Markets LLC (“Chardan”) related to a “ChEF,” Chardan’s committed equity facility (the “Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1106838/000149315224017629/0001493152-24-017629-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Chardan Capital Markets LLC"},{"label":"Value","value":"$25,000,000 in aggregate gross purchase price"},{"label":"Effective","value":"2024-05-02"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}