secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-08-18T23:59:59+00:00
Accession:  0001740797-23-000069
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avant signs $375K/quarter advisor deal with Timothy Lantz for product & market strategy
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- Timothy Lantz appointed Chief Product & Market Strategy Advisor effective Aug 1, 2023; receives $375K quarterly (40% cash min, rest in stock at 15% VWAP discount, floor $0.10).
- If Avant lists on Nasdaq, quarterly fee increases to $450K retroactive to Aug 1, 2023; payments then in cash.
- Term runs Aug 1, 2023 to July 31, 2024, extendable by mutual consent; 30-day termination for convenience by either party.
- Advisor currently serves as senior executive at a private AI/tech company; agreement acknowledges outside work.
- Shares issued are unregistered; advisor accredited investor.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000069/0001740797-23-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000069/avai_8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000069

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