secwatch.observer — SEC 8-K summary
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Issuer:     CytoDyn Inc. (CYDY)
CIK:        0001175680
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001558370-24-004282
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 3.02
LLM model:  deepseek-v4-flash:cloud@v2

CytoDyn reports unregistered sales of ~20.6M shares and warrants for $3.5M; note exchange adds 10.4M shares
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- Private placement of ~20.6M units at ~$0.17/unit raised ~$3.5M; each unit = 1 share + 5-yr warrant at $0.21.
- Placement agent receives 13% cash fee + warrants for 15% of shares sold (~3.1M warrants, 10-yr term).
- Convertible note exchange reduced principal by $1.5M, issued ~10.4M shares to note holder in Jan-Feb 2024.
- Sales triggered disclosure because aggregate unregistered sales exceeded 5% of Dec 31, 2023 outstanding shares.
- Issuances exempt under Rule 506(b) (private placement) and Section 3(a)(9) (exchange).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175680/000155837024004282/0001558370-24-004282-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175680/000155837024004282/cydy-20240322x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-004282

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