secwatch.observer — SEC 8-K summary
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Issuer:     BONK, INC. (BNKK)
CIK:        0001760903
Form:       8-K
Filed at:   2025-05-27T23:59:59+00:00
Accession:  0001641172-25-012512
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safety Shot settles $14.58M in liabilities via equity issuance to Silverback Capital
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- Court approved May 20, 2025; company to issue freely trading shares under Section 3(a)(10) to settle $14,580,395.73 in liabilities.
- Share count variable: claim amount divided by purchase price (starting at closing price, floor $0.20, adjusted to 70% of market if price drops).
- Company must reserve at least 23M shares; as of May 9, 2025, 76M shares outstanding, 250M authorized.
- Settlement includes 250,000 fee shares; SCC subject to 4.99% beneficial ownership limit per tranche.
- Potential for significant dilution; price floor mechanism protects SCC if stock declines further.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760903/000164117225012512/0001641172-25-012512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760903/000164117225012512/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-012512

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