secwatch.observer — SEC 8-K summary
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Issuer:     AI Financial Corp (AIFC)
CIK:        0000862861
Form:       8-K
Filed at:   2024-05-21T23:59:59+00:00
Accession:  0001493152-24-020865
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JanOne acquires Alt 5 Sigma for ~$16M in equity; Alt 5 becomes wholly-owned subsidiary
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- Consideration: ~1.8M JanOne common shares (19.9% of outstanding) valued at $4.14/share, plus 34,207 Series B Preferred shares ($250 liquidation preference each).
- Alt 5 operates blockchain payment gateway ALT 5 Pay and OTC trading platform ALT 5 Prime for digital assets.
- Closing occurred May 15, 2024; financial statements of Alt 5 to be filed by July 31, 2024.
- 3,200 shares of Series M Preferred stock issued to finders in connection with the transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862861/000149315224020865/0001493152-24-020865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862861/000149315224020865/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-020865

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