secwatch.observer — SEC 8-K summary
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Issuer:     BASANITE, INC. (BASA)
CIK:        0001448705
Form:       8-K
Filed at:   2022-02-03T23:59:59+00:00
Accession:  0001553350-22-000091
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Basanite raises $600,000 in private placement of units at $0.33/unit; up to $5M total
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- Initial closings on Jan 28 and Feb 3, 2022 raised $600,000 through sale of 1,818,182 units.
- Each unit consists of one common share, one 5-year Warrant A ($0.33 exercise) and one 5-year Warrant B ($0.33, callable if stock ≥$1 for 5 days).
- Net proceeds to fund deposits on five pultrusion machines and for general working capital.
- Offering is best-efforts with up to $5,000,000 total; additional closings expected over ~60 days.
- Investors include affiliates of strategic commercial partner U.S. Supplies, Inc. and director Manuel Rodriguez.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1448705/000155335022000091/0001553350-22-000091-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1448705/000155335022000091/basa_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-22-000091

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