secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001740797-24-000035
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avant Technologies enters $20M equity financing agreement with GHS Investments at 80% discount
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- Up to $20M of common stock over 24 months; purchase price is 80% of lowest traded price in prior 10 trading days.
- After NASDAQ uplist, price becomes 90% of lowest VWAP with $0.50 floor; puts capped at $500K each.
- Company can initiate puts only when registration effective; GHS ownership limited to 4.99% of outstanding shares.
- First closing requires $8,000 deposit to investor's legal counsel for transaction costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079724000035/0001740797-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079724000035/avai_8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-24-000035

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