secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001740797-23-000022
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 5.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trend Innovations issues 26M shares for Avant-AI AI system and 5,000 convertible preferred for Instant Fame assets
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- Acquired Avant-AI text-generation deep learning system from GBT Tokenize; issued 26M common shares with 9-month lock-up.
- Acquired Instant Fame technology portfolio from Treasure Drive for 5,000 convertible preferred shares ($5,000 stated value each) convertible at 5% discount to 5-day VWAP.
- Engaged Elentina Group for capital markets services at $75,000 quarterly fee paid in common stock priced at 10-day VWAP (floor $0.10).
- Both asset acquisitions include unwind right if company fails to up-list to Nasdaq before lock-up expiration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000022/0001740797-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000022/report8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000022

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