secwatch.observer — SEC 8-K summary
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Issuer:     RENEWABLE INNOVATIONS, INC. (—)
CIK:        0001725516
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001493152-24-041747
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Renewable Innovations sells renewable business assets for $4.7M; faces lawsuit to block deal
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- Sold assets of renewable innovation business to Renewable Energy, LLC for total consideration of $4,685,216.
- Consideration includes $2.43M cash, assignment of $1.08M promissory notes, and $1.17M cash advances already made.
- Renewable Innovations received 2% equity in Buyer; will enter Reseller Agreement to continue selling branded products.
- Class action lawsuit filed Sep 27, 2024 in Utah federal court alleges securities law violations and seeks to block transaction; company says it's without merit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1725516/000149315224041747/0001493152-24-041747-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1725516/000149315224041747/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-041747

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