secwatch.observer — SEC 8-K summary
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Issuer:     DNA X, Inc. (SONM)
CIK:        0001178697
Form:       8-K
Filed at:   2025-12-18T23:59:59+00:00
Accession:  0001493152-25-028292
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonim issues $1.2M convertible note, acquires DNA X DeFi protocol for 19.99% stock
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- Issued $1.2M convertible promissory note to DNA Holdings, 10% interest, due Dec 2026, convertible at $5.50/share.
- Acquired 100% of DNA X LLC for 223,201 shares (19.99% of outstanding) – an on-chain DeFi trading protocol.
- DNA Holdings receives board nomination rights (1 officer, 1 director) if it holds ≥5% of common stock.
- Put option: if DNA X doesn't hit $600M volume or $1M/day revenue by June 2026, DNA Holdings can swap shares back for DNA X.
- Exchanged $629,640 of Streeterville note for 148,500 shares at $4.24; remaining Streeterville note ~$2.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178697/000149315225028292/0001493152-25-028292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178697/000149315225028292/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-028292

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