secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001740797-23-000019
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trend Innovations issues $125,100 convertible note to 1800 Diagonal Lending at 8% interest
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- Principal $125,100; purchased at $104,250 (16.6% OID); 8% annual interest; matures June 27, 2024.
- Conversion after 180 days at 85% of lowest trading price in prior 20 days; 4.99% ownership cap.
- Company granted 1800 Diagonal Lending right of first refusal on future equity offerings under $150k for 9 months.
- Proceeds used for general working capital; buyer's expenses of $4,250 reimbursed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000019/0001740797-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000019/tren_8kd.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000019

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