---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-22-002020"
form_type: "8-K"
ticker: "DWAY"
cik: "0001394638"
company_name: "Driveitaway Holdings, Inc."
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T14:55:34.738247+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# DriveItAway raises $200K via secured convertible notes and warrants; proceeds for EV acquisition

## Summary
- Raised $200,000 via private placement of four Units at $50,000 each; net proceeds $180,000.
- Each Unit includes a 24-month 15% secured convertible note convertible at $0.20/share.
- Each Unit also includes a warrant to purchase 25,000 shares at $0.30/share, exercisable for 5 years.
- Notes secured by all company vehicles; default interest rate increases by 500 bps.
- Net proceeds used to acquire five electric vehicles and for general corporate purposes.

## SEC filing metadata
- accession: 0001731122-22-002020
- form_type: 8-K
- ticker: DWAY
- cik: 0001394638
- company_name: Driveitaway Holdings, Inc.
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1394638/000173112222002020/0001731122-22-002020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1394638/000173112222002020/e4244_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-22-002020
- JSON: https://secwatch.observer/filing/0001731122-22-002020.json
- Plain text: https://secwatch.observer/filing/0001731122-22-002020.txt

## Key facts
- Debt Financings
  Driveitaway Holdings, Inc. incurred convertible notes of $200,000 at 15% maturing November 15, 2024.
  - Instrument: convertible notes
  - Principal: $200,000
  - Rate: 15%
  - Maturity: November 15, 2024
  - Event: incurrence
  source text: On November 15, 2022, DriveitAway Holdings, Inc (the “ Company ”) closed on a transaction with an investor pursuant to a Subscription Agreement for an aggregate amount of $200,000, for four (4) Units. Each Unit, priced at $50,000, consists of a twenty four (24) month Secured Promissory Note (the “Note”), at an interest rate of 15%, which is convertible at $0.20 per share into shares of the Company’s common stock. The principal and interest on the Note shall be payable as follows: (a) the principal balance and all accrued and unpaid interest, late fees, etc. shall be due and payable on November 15, 2024 (the “ Maturity Date”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1394638/000173112222002020/0001731122-22-002020-index.htm
- Material Agreements
  Driveitaway Holdings, Inc. entered into Subscription Agreement with an investor valued at $200,000 (effective 2022-11-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: an investor
  - Value: $200,000
  - Effective: 2022-11-15
  source text: On November 15, 2022, DriveitAway Holdings, Inc (the “ Company ”) closed on a transaction with an investor pursuant to a Subscription Agreement for an aggregate amount of $200,000, for four (4) Units.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1394638/000173112222002020/0001731122-22-002020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.