secwatch.observer — SEC 8-K summary
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Issuer:     EBET, Inc. (—)
CIK:        0001829966
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001683168-23-005146
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EBET approves 5x authorized share increase; preferred stock conversion could add 407M shares
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- Authorized common shares increased from 100M to 500M; 2.5M additional shares reserved for 2020 Stock Plan.
- Series A Preferred conversion price reduced to $0.086 effective July 31; 28,454 preferred shares could convert into 407M common shares.
- Stockholders approved reverse stock split (1-for-2 to 1-for-30) at Board's discretion within one year.
- Record date float was 27.9M shares; potential dilution from preferred conversion exceeds 14x current outstanding.
- Four directors elected; BF Borgers ratified as auditor for FY ending September 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823005146/0001683168-23-005146-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823005146/ebet_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-005146

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