secwatch.observer — SEC 8-K summary
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Issuer:     EBET, Inc. (—)
CIK:        0001829966
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0001683168-23-005931
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 3.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

EBET faces Nasdaq delisting for equity deficiency; preferred conversion dilutes shares
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- Received Nasdaq letter on Aug 15, 2023 for non-compliance with $2.5M minimum stockholders' equity rule (Listing Rule 5550(b)(1)).
- Hearing before Nasdaq Hearings Panel scheduled for Oct 12, 2023 to address bid price and equity deficiencies.
- Series A Preferred conversion price reduced from $0.71 to $0.086 on July 31, 2023; 34,627 of 37,700 shares converted.
- Conversion resulted in issuance of ~379M common shares; total common shares outstanding now ~404M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823005931/0001683168-23-005931-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823005931/ebet_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-005931

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