---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-001479"
form_type: "8-K"
ticker: "NIXX"
cik: "0001462223"
company_name: "Nixxy, Inc."
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:38:31.304482+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Recruiter.com amends debt terms, lowers warrant exercise price to $0.38

## Summary
- Interest-only payments on $3M Novo Note from Nov 2022 through Mar 2023; principal payments resume Apr 2023.
- Montage loan covenant deadlines extended to Apr 1, 2023 for key person insurance and account control agreements.
- Warrant exercise price reduced to $0.38 per share; cashless exercise restrictions modified for certain holders.
- Price reduction triggers automatic adjustment for other outstanding warrants from 2020-2022 to $0.38 per share.

## SEC filing metadata
- accession: 0001654954-23-001479
- form_type: 8-K
- ticker: NIXX
- cik: 0001462223
- company_name: Nixxy, Inc.
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462223/000165495423001479/0001654954-23-001479-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462223/000165495423001479/rcrt_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-001479
- JSON: https://secwatch.observer/filing/0001654954-23-001479.json
- Plain text: https://secwatch.observer/filing/0001654954-23-001479.txt

## Key facts
- Material Agreements
  Nixxy, Inc. amended Warrant Amendments with Cavalry Fund I LP, Firstfire Global Opportunities Fund LLC, Porter Partners, L.P. valued at modify cashless exercise time period and lower exercise price to $0.38 per share (effective 2023-02-03).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Cavalry Fund I LP, Firstfire Global Opportunities Fund LLC, Porter Partners, L.P.
  - Value: modify cashless exercise time period and lower exercise price to $0.38 per share
  - Effective: 2023-02-03
  source text: On February 3, 2023, the Company entered into amendments (the “Warrant Amendments”) to Common Stock Purchase Warrants issued on August 17, 2022 (the “Warrants”) to each of Cavalry Fund I LP, Firstfire Global Opportunities Fund LLC, and Porter Partners, L.P. (the “Warrantholders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462223/000165495423001479/0001654954-23-001479-index.htm
- Material Agreements
  Nixxy, Inc. amended First Amendment to Loan and Security Agreement with Montage Capital II, L.P. valued at provides additional time to meet post-closing covenants (effective 2022-12-18).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Montage Capital II, L.P.
  - Value: provides additional time to meet post-closing covenants
  - Effective: 2022-12-18
  source text: On February 2, 2023, the Company entered into a First Amendment to Loan and Security Agreement (the “Montage Amendment”), by and between the Company, its subsidiaries (Recruiter.com, Inc., Recruiter.com Recruiting Solutions, LLC, Recruiter.com Consulting, LLC, VocaWorks, Inc., Recruiter.com Scouted, Inc., Recruiter.com Upsider, Inc., and Recruiter.com - OneWire, Inc.), and Montage, effective as December 18, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462223/000165495423001479/0001654954-23-001479-index.htm
- Material Agreements
  Nixxy, Inc. amended Consent and Amendment No. 1 to Promissory Note with Novo Group, Inc. valued at amends Novo Note payment schedule (effective 2022-11-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Novo Group, Inc.
  - Value: amends Novo Note payment schedule
  - Effective: 2022-11-01
  source text: On February 2, 2023, Recruiter.com Group, Inc. (the “Company”) entered into a Consent and Amendment No. 1 to Promissory Note with Novo Group, Inc. (“Novo”) and Montage Capital II, L.P. (solely with respect to Section 2 thereof) (“Montage”) effective November 1, 2022 (the “Novo Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462223/000165495423001479/0001654954-23-001479-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.