secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-10-06T23:59:59+00:00
Accession:  0001740797-23-000072
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avant Technologies issues $126K convertible note to 1800 Diagonal Lending LLC
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- Issued $126,000 convertible note (original issue discount of $21,000) for net proceeds of $105,000.
- Note matures March 2, 2025, bears 8% interest, convertible after 180 days at 85% of lowest trading price.
- Conversion capped at 4.99% beneficial ownership; company repaid prior $125,100 note on Sept 26, 2023 for $136,393.
- Proceeds used for general working capital; securities issued under Section 4(a)(2) exemption.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000072/0001740797-23-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000072/avai8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000072

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