secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-12-12T23:59:59+00:00
Accession:  0001740797-23-000083
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avant Technologies signs co-development deal with Wired-4-Tech for AI submersion cooling infrastructure
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- Wired-4-Tech will exclusively develop proprietary hardware/software for Avant's AI infrastructure and submersion cooling systems.
- Avant receives exclusive perpetual license and full IP assignment upon completion and payment.
- Payment terms require Avant to raise working capital; initial deposit mutually agreed to start work.
- Agreement term is three years; termination allowed for material breach with 30-day cure for Avant, 45-day for Developer.
- IP reverts to Wired-4-Tech if Avant becomes insolvent; Avant's licensees become direct licensees of Developer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000083/0001740797-23-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000083/avai_8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000083

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