secwatch.observer — SEC 8-K summary
======================================

Issuer:     CLOUDASTRUCTURE, INC. (CSAI)
CIK:        0001709628
Form:       8-K
Filed at:   2026-07-06T20:43:05+00:00
Accession:  0001683168-26-005311
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cloudastructure exchanges 1,170 Series 2 Preferred shares for $1.3M promissory note; amends preferred stock terms
--------------------------------------------------------------------------------

- Exchanged 1,170 Series 2 Convertible Preferred shares for a $1,299,870 promissory note with 9.5% interest, maturing July 30, 2027.
- Note is unsecured; Streeterville can redeem up to $108,332.50 per month starting July 30, 2026.
- Amended Series 2 Certificate of Designations to classify preferred as equity under GAAP; fixed conversion price $0.40 per share with full-ratchet anti-dilution.
- Eliminated deemed liquidation event and forced redemption rights; holder remedies limited to 10% stated value increase and equitable relief.
- Exchange done under Section 3(a)(9) exemption; no additional consideration paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1709628/000168316826005311/0001683168-26-005311-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1709628/000168316826005311/cloud_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-005311

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