secwatch.observer — SEC 8-K summary
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Issuer:     Nixxy, Inc. (NIXX)
CIK:        0001462223
Form:       8-K
Filed at:   2023-09-05T23:59:59+00:00
Accession:  0001654954-23-011550
Event type: m_and_a
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Recruiter.com amends GoLogiq deal; CEO change, milestone-based dilution up to 84%
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- At closing, seller receives 19.99% of RCRT shares (16.66% post-issue).
- Revenue milestones: $2M (6 mo) -> 40% ownership; $4M (9 mo) -> 64%; $6M (12 mo) -> 84% fully diluted.
- Earn-out: if market cap exceeds $105M on 6-month date, seller gets additional shares based on tiers up to 90% of excess.
- Granger Whitelaw (GoLogiq CEO) to become CEO of Recruiter.com after closing; one board seat to seller nominee.
- Amendment replaces August 18 version; transaction originally disclosed June 5, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462223/000165495423011550/0001654954-23-011550-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462223/000165495423011550/rcrt_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-011550

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