secwatch.observer — SEC 8-K summary
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Issuer:     CytoDyn Inc. (CYDY)
CIK:        0001175680
Form:       8-K
Filed at:   2022-12-07T23:59:59+00:00
Accession:  0001558370-22-018412
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CytoDyn extends surety bond backstop to Jan 31, 2023; issues warrants at $0.10, reduces existing warrant exercise price
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- Extends Indemnitors' surety bond obligation to Jan 31, 2023; must relieve $1.5M cash collateral by Jan 5, 2023, remaining $5M by Jan 31.
- Reduces exercise price of existing 30M warrants from $0.20 to $0.10 per share; issues new warrants for 7.5M shares at $0.10.
- Issues second warrant for up to 7.5M shares at $0.10, amount based on how quickly cash collateral is relieved.
- Completed private warrant exchange on Nov 30: four investors exercised ~1.2M $1.00 warrants for ~9.5M shares, raising ~$2.1M.
- David Fairbank Welch now deemed beneficial owner of >5% of outstanding common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175680/000155837022018412/0001558370-22-018412-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175680/000155837022018412/cydy-20221130x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-018412

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