secwatch.observer — SEC 8-K summary
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Issuer:     Driveitaway Holdings, Inc. (DWAY)
CIK:        0001394638
Form:       8-K
Filed at:   2022-03-02T23:59:59+00:00
Accession:  0001731122-22-000343
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 2.01, 2.03, 3.02, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Creative Learning completes reverse merger with DriveItAway; DIA shareholders own 85% of combined company
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- DriveItAway becomes wholly-owned subsidiary; DIA shareholders get Series A Preferred convertible into 85% of CLCN common stock.
- $750k promissory note issued to AJB Capital at 10% interest, net proceeds $641,250 for working capital.
- 4M unregistered commitment fee shares issued to AJB; warrant for 1M shares at $0.30/share, 5-year term.
- John Possumato appointed CEO, Adam Potash COO; board consists of Possumato, Potash, and Paul Patrizio.
- Company pivots to focus on DriveItAway's EV subscription-to-ownership platform for entry-level and credit-challenged consumers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1394638/000173112222000343/0001731122-22-000343-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1394638/000173112222000343/e3545_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-22-000343

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