8-K
filed March 7, 2023, 6:59 PM ET
ticker DWAY
CIK 0001394638
debt
confidence high
sentiment neutral
materiality 0.30
Driveitaway Holdings, Inc. (DWAY): debt financing — DriveItAway raises $62,500 via 15% promissory notes and warrants
Driveitaway Holdings, Inc.
- Raised $62,500 from four accredited investors via 120-day 15% notes due June 30, 2023.
- Issued warrants to purchase up to 125,000 shares at $0.05 per share, exercisable for 5 years.
- Net proceeds will be used for working capital and general corporate purposes.
- Warrants include beneficial ownership limitation and are exercisable immediately.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Driveitaway Holdings, Inc. incurred loan of $62,500 at 15% maturing June 30, 2023.
- Instrument
- loan
- Principal
- $62,500
- Rate
- 15%
- Maturity
- June 30, 2023
- Event
- incurrence
Exact text from the filing
On March 1, 2023, DriveitAway Holdings, Inc. (the “ Company ”) closed on a transaction with four (4) investors pursuant to respective Subscription Agreements for an aggregate amount of $62,500. Each investor was issued a Promissory Note, dated March 1, 2023 (the “Note”), for their respective investment amounts at an interest rate of 15%.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Driveitaway Holdings, Inc. entered into Common Stock Purchase Warrant with four investors valued at 125,000 warrants, exercise price $0.05 per share (effective 2023-03-01).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- four investors
- Value
- 125,000 warrants, exercise price $0.05 per share
- Effective
- 2023-03-01
Exact text from the filing
In addition, each investor was issued a Common Stock Purchase Warrant (the "Warrant") by the Company in an amount equal to two times the amount of their respective investments, for an aggregate amount of 125,000 warrants, at an exercise price of $0.05 per share, exercisable within five (5) years from the date of issuance.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Driveitaway Holdings, Inc. entered into Subscription Agreement with four investors valued at Aggregate investment $62,500 (effective 2023-03-01).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- four investors
- Value
- Aggregate investment $62,500
- Effective
- 2023-03-01
Exact text from the filing
On March 1, 2023, DriveitAway Holdings, Inc. (the " Company ") closed on a transaction with four (4) investors pursuant to respective Subscription Agreements for an aggregate amount of $62,500.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Driveitaway Holdings, Inc. entered into Promissory Note with four investors valued at $62,500 aggregate principal, interest rate 15% (effective 2023-03-01).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- four investors
- Value
- $62,500 aggregate principal, interest rate 15%
- Effective
- 2023-03-01
Exact text from the filing
On March 1, 2023, DriveitAway Holdings, Inc. (the " Company ") closed on a transaction with four (4) investors pursuant to respective Subscription Agreements for an aggregate amount of $62,500. Each investor was issued a Promissory Note, dated March 1, 2023 (the "Note"), for their respective investment amounts at an interest rate of 15%.
View on SEC.gov
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