other_material
confidence high
sentiment neutral
materiality 0.70
VisionWave amends SEPA: removes investor's share-push rights, cancels $2M funding
VisionWave Holdings, Inc.
- Amendment removes YA II PN's ability to require VisionWave to issue shares to offset $5M in promissory notes.
- No Amortization Event due to Registration Event before July 15, 2026; after that, only if SEC filings are current and Rule 144 available.
- Investor's obligation to fund additional $2M principal cancelled; future funding subject to mutual written agreement.
- Company must use best efforts to respond to SEC comments and seek effectiveness of Form S-1 registration statement.
- SEPA originally provided up to $50M of common stock; promissory notes of $3M (July 25, 2025) and $2M (Sep 11, 2025) outstanding.