secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001740797-23-000028
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trend Innovations files Certificate of Designation for Series A Preferred Stock issued in Treasure APA
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- Issued 5,000 Series A Preferred shares at $5,000 stated value each to Treasure Drive Ltd. for technology portfolio.
- Preferred shares convertible into common at 5% discount to 5-day VWAP, with 4.99% beneficial ownership limit.
- If not up-listed to Nasdaq within 9 months, TD can request unwinding of the Treasure APA.
- Certificate of Designation filed as Exhibit 3.1; shares have no voting rights and liquidation preference equal to stated value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000028/0001740797-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000028/tren8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000028

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