secwatch.observer — SEC 8-K summary
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Issuer:     Empery Digital Inc. (EMPD)
CIK:        0001829794
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0001683168-23-003569
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Volcon executes $4.93M convertible note private placement and $27.17M debt exchange
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- Issued $4,934,782 in senior convertible notes (initial conversion price $2.54) and warrants for 5.8M shares at $1.09 exercise price.
- Exchanged existing $27,173,913 Original Notes for Series A and Series B Exchange Notes plus Exchange Warrants.
- Closing contingent on an underwritten public offering raising at least $5.0M; net proceeds to company ~$4.5M.
- Eliminates $10M cash deposit requirement originally due Sept 30, 2023 under Original Notes.
- Shareholder approval needed for price adjustments to Transaction Price; special meeting within 60 days of closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829794/000168316823003569/0001683168-23-003569-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829794/000168316823003569/volcon_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-003569

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