secwatch.observer — SEC 8-K summary
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Issuer:     Silvaco Group, Inc. (SVCO)
CIK:        0001943289
Form:       8-K
Filed at:   2026-08-06T20:32:48+00:00
Accession:  0001628280-26-054383
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Silvaco issues $10M convertible note to Micron; converts in 2028 at formula price
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- Issued $10M senior convertible promissory note to Micron Technology, a customer, in private placement.
- Note bears 8% simple interest, no cash payments; interest accrues and converts with principal.
- Automatic conversion on Aug 7, 2028 or upon change of control; conversion price = lower of 90% of FMV or 115% of prior close.
- Conversion subject to Nasdaq cap; if exceeded, company must seek stockholder approval or make cash payment.
- Note restricts additional debt to $50M subordinated; unsecured, prepayment only with Micron consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1943289/000162828026054383/0001628280-26-054383-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1943289/000162828026054383/svco-20260806.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-054383

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