secwatch.observer — SEC 8-K summary
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Issuer:     Empery Digital Inc. (EMPD)
CIK:        0001829794
Form:       8-K
Filed at:   2023-09-27T23:59:59+00:00
Accession:  0001683168-23-006778
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Volcon amends convertible notes: maturity extended, cash covenant eased, all assets pledged as collateral
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- Maturity of senior convertible notes extended from Feb 24, 2024 to Jan 31, 2025.
- Minimum cash covenant reduced to $5M (from $10M); compliance date moved to June 30, 2024.
- Volcon required to sell at least 250 Stag offroad vehicles by Dec 31, 2023, as GAAP revenue.
- Company granted security interest in all assets; subsidiaries Volcon ePowersports (DE & CO) guaranteed.
- Issuance of up to 2M vendor warrants permitted without dilutive adjustment to conversion/exercise price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829794/000168316823006778/0001683168-23-006778-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829794/000168316823006778/volcon_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-006778

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