Fabric.AI (SBLX) enters $15M GPU connectivity development deal with Kopin and raises $21.5M

Fabric.AI, Inc.

Joint Development Agreement with Kopin for GPU-to-GPU connectivity; Fabric.AI to pay up to $15M for prototype development plus potential $15-25M for production plan.
Kopin receives Series J Preferred Stock convertible into 19.9% of pro forma fully-diluted common stock at $2.51/share with 6% annual dividend.
Private placement of $21.5M: 21,500 shares of Series K Preferred Stock (convertible at $2.51) and warrants for 8.565M shares at $2.51.
Company must obtain stockholder approval by June 26, 2026 (private placement) and July 26, 2026 (Series J) for issuances exceeding 19.99% of common stock.
Net proceeds from private placement to be used for general corporate purposes; closing expected April 29, 2026.

item 1.01 item 3.02 item 3.03 item 5.02 item 5.03 item 5.08 item 7.01 item 9.01

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