{"schema_version":"secwatch.filing_event.v1","accession":"0001880613-25-000120","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2025-10-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.969326+00:00","generated_at":"2026-05-17T03:47:23.763050+00:00","sec_items":["5.07","8.01","9.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Direct Digital Holdings shareholders approve share increase; company converts $35M debt to preferred","bullets":["Shareholders approved increasing authorized Class A shares from 160M to 760M and issuance of up to 50M shares under equity line.","Company converted $25M term loan to Series A Preferred on Aug 8, 2025, and additional $10M on Oct 14, 2025.","Sold 3.7M shares for $1.3M in Q3 2025 under Share Purchase Agreement; total $8.9M raised since inception.","Company now believes it satisfies Nasdaq's $2.5M stockholders' equity requirement; awaiting formal determination.","Also faces minimum bid price compliance; has until Nov 10, 2025 to regain compliance."],"urls":{"canonical":"https://secwatch.observer/filing/0001880613-25-000120","json":"https://secwatch.observer/filing/0001880613-25-000120.json","markdown":"https://secwatch.observer/filing/0001880613-25-000120.md","text":"https://secwatch.observer/filing/0001880613-25-000120.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000120/0001880613-25-000120-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000120/drct-20251013.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T03:47:23.763050+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}