secwatch.observer — SEC 8-K summary
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Issuer:     CytoDyn Inc. (CYDY)
CIK:        0001175680
Form:       8-K
Filed at:   2023-08-17T23:59:59+00:00
Accession:  0001558370-23-015074
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

CytoDyn discloses unregistered equity sales raising ~$3.5M with heavy dilution
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- Converted $2.0M of convertible note principal into ~9.8M shares via exchange; relied on Section 3(a)(9).
- April 2023 private placement sold ~0.5M units at $0.23/unit; net proceeds ~$0.1M.
- Mid-2023 offering raised ~$1.1M from 5.4M units at ~$0.20/unit; placement agent gets 12% fee plus warrants.
- $2.3M placement agent notes converted into ~11.5M shares at $0.20/unit; additional ~11.5M warrants issued at $0.306/share.
- Aggregate dilution from these transactions exceeds ~22M shares plus warrants; registration of resale shares committed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175680/000155837023015074/0001558370-23-015074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175680/000155837023015074/cydy-20230811x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-015074

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