secwatch.observer — SEC 8-K summary
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Issuer:     Expion360 Inc. (XPON)
CIK:        0001894954
Form:       8-K
Filed at:   2023-12-29T23:59:59+00:00
Accession:  0001903596-23-000983
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Expion360 secures $2.75M convertible note and $20M equity line of credit
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- Issued $2.75M senior unsecured convertible note to 3i, LP; 9% interest, matures Dec 27, 2024.
- Conversion price $6.1421/share; alternate conversion price (on default) at 90% of 10-day VWAP.
- Entered $20M equity line with Tumim Stone Capital; 95% of lowest daily VWAP over 3-day period.
- ELOC shares limited to 40% of daily trading volume or $2M per notice; 24-month term.
- Net proceeds to support working capital, IP/product development, and home energy storage launch.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1894954/000190359623000983/0001903596-23-000983-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1894954/000190359623000983/xpon_8k.htm
  HTML page:      https://secwatch.observer/filing/0001903596-23-000983

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