secwatch.observer — SEC 8-K summary
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Issuer:     Grom Social Enterprises, Inc. (—)
CIK:        0001662574
Form:       8-K
Filed at:   2024-04-05T23:59:59+00:00
Accession:  0001683168-24-002155
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grom Social enters $650K convertible note financing with Generating Alpha, subject to shareholder approval
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- $650,000 convertible note sold at $520,000 (20% OID) to Generating Alpha Ltd.; 12% interest, 1-year maturity.
- Note convertible at $0.87/share, or alternate at 80% of lowest 40-day trading price before conversion.
- Warrant issued for 962,962 shares at $0.001/share exercise price; effectively deep in-the-money.
- Transaction requires shareholder approval; voting agreement with certain shareholders to vote in favor.
- EF Hutton acting as placement agent; registration rights agreement to file resale registration within 30 days of closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662574/000168316824002155/0001683168-24-002155-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662574/000168316824002155/grom_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-002155

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