secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2025-02-19T23:59:59+00:00
Accession:  0001493152-25-007233
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Ally closes $15M public offering of units and pre-funded warrants; net proceeds ~$13.48M
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- Closed offering of 7.85M units at $0.15/unit plus 92.15M pre-funded units at $0.149/unit; gross proceeds $15M, net ~$13.48M.
- Each unit includes 1 share common, 1 Series A warrant ($0.1875 exercise) and 1 Series B warrant ($0.30 exercise); pre-funded units include pre-funded warrant.
- Warrants exercisable only after stockholder approval; Series A expires 5 years, Series B 2.5 years after approval.
- Net proceeds to be used for working capital, pay merchant advance, and pay senior secured promissory notes from Nov 2024 private placement.
- Underwriter Aegis exercised over-allotment for 15M Series A and 15M Series B warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315225007233/0001493152-25-007233-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315225007233/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-007233

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