secwatch.observer — SEC 8-K summary
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Issuer:     Arrive AI Inc. (ARAI)
CIK:        0001818274
Form:       8-K
Filed at:   2025-12-08T23:59:59+00:00
Accession:  0001493152-25-026672
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arrive AI closes $3.0M pre-paid convertible note with Streeterville Capital
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- Streeterville paid $3.0M for a $3.24M promissory note (8% interest, $240K OID), convertible into common shares at a discount.
- Conversion price is lesser of initial Nasdaq reference price or 90% of lowest VWAP over 10 trading days, subject to $0.25 floor.
- Company may prepay at 115% of principal with 5 days' notice; monthly $412.5K cash payments triggered on price or share issuance events.
- Maxim Group acted as placement agent, receiving 6% cash fee on gross proceeds and future pre-paid purchases.
- Shares issuable are unregistered, sold under Section 4(a)(2) and Regulation D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818274/000149315225026672/0001493152-25-026672-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818274/000149315225026672/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-026672

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