secwatch.observer — SEC 8-K summary
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Issuer:     Driveitaway Holdings, Inc. (DWAY)
CIK:        0001394638
Form:       8-K
Filed at:   2021-12-14T23:59:59+00:00
Accession:  0001731122-21-002131
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Creative Learning to acquire DriveItAway via share exchange; DIA shareholders to own 85% of combined company
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- Acquires DriveItAway, a dealer-focused mobility platform, in a share exchange where DIA shareholders receive Series A Preferred convertible to 85% of CLCN common stock.
- Upon closing, current directors and officers resign; John Possumato becomes CEO, Adam Potash COO, and Paul Patrizio appointed to board.
- Separately, CLCN to sell its learning business (five subsidiaries) to StroomX LLC, controlled by current CEO Chris Rego, post-closing.
- A private offering of Units (common + warrant) at $0.20/Unit seeks minimum $700k, maximum $1.5M; proceeds for transaction costs and DIA working capital.
- Closing conditions include audit of DIA financials by Jan 31, 2022, completion of $700k offering, and SEC Rule 14f-1 information statement distribution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1394638/000173112221002131/0001731122-21-002131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1394638/000173112221002131/e3359_8k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-21-002131

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