secwatch.observer — SEC 8-K summary
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Issuer:     Rubicon Technologies, Inc. (—)
CIK:        0001862068
Form:       8-K
Filed at:   2024-12-06T23:59:59+00:00
Accession:  0001829126-24-008099
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.02, 3.03, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rubicon issues $28.8M Series B Preferred, refinances debt, appoints two directors
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- Sold 28,800 shares of Series B Preferred at $1,000/share for $28.8M gross proceeds; net $18.2M after repaying $1.8M to Palantir.
- Series B Preferred carries 8% dividend, stepping to max 16%; convertible into ~7.37B shares of Class A common, massively dilutive.
- Terminated Acquiom and MidCap credit agreements; entered new $135M Eclipse revolving facility maturing Dec 2027.
- Directors Paula Dobriansky and Paula Henderson resigned; Jose Miguel Enrich and Michael Dulin appointed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1862068/000182912624008099/0001829126-24-008099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1862068/000182912624008099/rubicontech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-008099

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