---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-24-000751"
form_type: "8-K"
ticker: "DWAY"
cik: "0001394638"
company_name: "Driveitaway Holdings, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T17:16:03.558873+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# DriveitAway subsidiary DIA Leasing enters $2M line of credit at 15%; issues warrant for 5M shares

## Summary
- DIA Leasing, LLC obtains up to $2M line of credit from an investor for motor vehicle purchases; interest rate 15% per annum.
- DriveitAway issues prefunded warrant to purchase up to 5M shares of common stock to the lender as additional consideration.
- Line of credit allows up to eight draws of $250K each over 180 days; repayment: interest-only first 3 months, then 48-month amortization, balloon at 18 months.
- Loans secured by liens on vehicle titles; DriveitAway acts as guarantor; no outstanding loans or letters of credit as of March 1, 2024.
- Proceeds must be used solely for purchasing motor vehicles; commitment fee of 2% of each disbursement applies.

## SEC filing metadata
- accession: 0001731122-24-000751
- form_type: 8-K
- ticker: DWAY
- cik: 0001394638
- company_name: Driveitaway Holdings, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1394638/000173112224000751/0001731122-24-000751-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1394638/000173112224000751/e5649_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-24-000751
- JSON: https://secwatch.observer/filing/0001731122-24-000751.json
- Plain text: https://secwatch.observer/filing/0001731122-24-000751.txt

## Key facts
- Debt Financings
  Driveitaway Holdings, Inc. incurred revolving credit of $2,000,000 line of credit with the Lender at fifteen percent (15%) per annum maturing eighteen (18) months from the date that the funds for each Draw are disbursed.
  - Instrument: revolving credit
  - Principal: $2,000,000 line of credit
  - Counterparty: the Lender
  - Rate: fifteen percent (15%) per annum
  - Maturity: eighteen (18) months from the date that the funds for each Draw are disbursed
  - Event: incurrence
  source text: On March 1, 2024, DIA Leasing, LLC. (the “Borrower”), a direct wholly owned subsidiary of DriveitAway Holdings, Inc. (“DWAY”), closed a $2,000,000 line of credit facility (the “Credit Facility”) with an investor (the “Lender”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1394638/000173112224000751/0001731122-24-000751-index.htm
- Material Agreements
  Driveitaway Holdings, Inc. entered into Credit Facility with an investor (the "Lender") valued at $2,000,000 line of credit (effective 2024-03-01).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: an investor (the "Lender")
  - Value: $2,000,000 line of credit
  - Effective: 2024-03-01
  source text: On March 1, 2024, DIA Leasing, LLC. (the "Borrower"), a direct wholly owned subsidiary of DriveitAway Holdings, Inc. ("DWAY"), closed a $2,000,000 line of credit facility (the "Credit Facility") with an investor (the "Lender").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1394638/000173112224000751/0001731122-24-000751-index.htm

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