secwatch.observer — SEC 8-K summary
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Issuer:     Premier Air Charter Holdings Inc. (PREM)
CIK:        0001570937
Form:       8-K
Filed at:   2025-08-08T23:59:59+00:00
Accession:  0001683168-25-005806
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Premier Air Charter converts $6.4M debt into 100,000 Series A preferred shares
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- Exchanged $6,419,269.43 debt (principal + accrued interest) from subsidiary for 100,000 shares of Series A Preferred Stock.
- Preferred shares have stated value of $164.19, convertible into common at $0.04/share, subject to a 4.9% beneficial ownership cap.
- Debt originated from consolidated promissory notes dated Feb 2024 ($2.76M), Aug 2024 ($1.63M), and Mar 2025 ($2.14M).
- Upon issuance, the debt is terminated; shares are restricted, unregistered, and issued to accredited investor Innoworks Employment Services.
- Company filed Certificate of Designation for Series A Preferred with Nevada Secretary of State on August 6, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1570937/000168316825005806/0001683168-25-005806-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1570937/000168316825005806/prem_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-005806

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