secwatch.observer — SEC 8-K summary
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Issuer:     Data443 Risk Mitigation, Inc. (ATDS)
CIK:        0001068689
Form:       8-K
Filed at:   2026-07-20T10:04:20+00:00
Accession:  0001493152-26-033828
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Data443 issues $2M promissory note to XYDD as compensation for terminating prior business combination
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- Data443 issued $2M promissory note to XYDD as compensation for terminating FORL-XYDD business combination.
- Note payable in two $1M installments: 90 and 120 days after deal close; 15% default interest if late.
- After 12 months, XYDD may convert outstanding amount into PubCo shares at 80% of 20-day VWAP, subject to floor and cap.
- 1,800,000 PubCo shares allocated to finder S.SHUN Holdings Limited under prior finder arrangement.
- Agreement facilitates Data443's de-SPAC transaction with FORL after termination of prior deal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1068689/000149315226033828/0001493152-26-033828-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1068689/000149315226033828/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-033828

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