secwatch.observer — SEC 8-K summary
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Issuer:     Xos, Inc. (XOS)
CIK:        0001819493
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0001819493-23-000164
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Xos amends SEPA with Yorkville, extends facility to 2026, raises beneficial ownership limit to 9.99%
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- Amendment changes Option 1 purchase price from average VWAP to lowest VWAP during 3-day pricing period.
- Beneficial ownership limit increased from 4.99% to 9.99% of outstanding common stock.
- Commitment period extended from March 2025 to February 11, 2026.
- Side letter allows SEPA advances while convertible debentures outstanding; proceeds offset up to $3M/month principal, excess split 75% to company and 25% to optional redemption.
- First Amendment to Convertible Debentures amends Primary Market definition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819493/000181949323000164/0001819493-23-000164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819493/000181949323000164/xos-20230622.htm
  HTML page:      https://secwatch.observer/filing/0001819493-23-000164

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