[8-K] AYRO, Inc. Reports Material Event
AYRO, Inc. entered into a Securities Purchase Agreement to issue a newly designated Series I Convertible Preferred Stock and related warrants to certain accredited investors. The Company agreed to sell an aggregate of 7,000 shares of Series I Preferred Stock with a stated value of $1,000 per share, initially convertible into up to 875,000 shares of common stock at an initial conversion price of $8.00 per share. The transaction also includes warrants to acquire up to an aggregate of 875,000 shares of common stock at an exercise price of $8.00 per share. The Company filed the Certificate of Designations creating the Series I Preferred Stock.
The Company also filed an amendment to its Series H-7 Certificate of Designations that, as disclosed, extends the maturity date to February 4, 2027, revises payment dates and payable amounts for dividends and installment amounts, modifies the definition of "Excluded Securities," and adjusts the schedule of installment dates. Series H-7 holders provided waivers and consents and the Company filed the related Certificate of Amendment. These actions change certain security rights and provide for the issuance of the Series I securities referenced above.
AYRO, Inc. ha stipulato un Securities Purchase Agreement per emettere una nuova Serie I di azioni preferenziali convertibili e i relativi warrant a determinati investitori accreditati. La Societ脿 ha concordato la vendita di un totale di 7,000 azioni di Serie I Preferred Stock con un valore nominale di $1,000 per azione, inizialmente convertibili in fino a 875,000 azioni ordinarie a un prezzo di conversione iniziale di $8.00 per azione. L'operazione include inoltre warrant per acquisire complessivamente fino a 875,000 azioni ordinarie a un prezzo di esercizio di $8.00 per azione. La Societ脿 ha depositato il Certificate of Designations che istituisce la Serie I Preferred Stock.
La Societ脿 ha anche depositato una modifica al Certificate of Designations della Serie H-7 che, come comunicato, estende la data di scadenza al 4 febbraio 2027, rivede le date di pagamento e gli importi dovuti per dividendi e rate, modifica la definizione di 'Excluded Securities' e adegua il calendario delle date delle rate. I detentori della Serie H-7 hanno fornito rinunce e consensi e la Societ脿 ha depositato il relativo Certificate of Amendment. Queste azioni alterano alcuni diritti sui titoli e consentono l'emissione delle azioni di Serie I sopra indicate.
AYRO, Inc. celebr贸 un Securities Purchase Agreement para emitir una nueva Serie I de acciones preferentes convertibles y los warrants relacionados a determinados inversores acreditados. La Compa帽铆a acord贸 vender un total de 7,000 acciones de la Serie I Preferred Stock con un valor nominal de $1,000 por acci贸n, inicialmente convertibles en hasta 875,000 acciones ordinarias a un precio de conversi贸n inicial de $8.00 por acci贸n. La transacci贸n tambi茅n incluye warrants para adquirir hasta un total de 875,000 acciones ordinarias a un precio de ejercicio de $8.00 por acci贸n. La Compa帽铆a present贸 el Certificate of Designations que crea la Serie I Preferred Stock.
La Compa帽铆a adem谩s present贸 una enmienda al Certificate of Designations de la Serie H-7 que, seg煤n se inform贸, extiende la fecha de vencimiento hasta el 4 de febrero de 2027, revisa las fechas de pago y los importes a pagar por dividendos y cuotas, modifica la definici贸n de 'Excluded Securities' y ajusta el calendario de fechas de las cuotas. Los tenedores de la Serie H-7 otorgaron exenciones y consentimientos y la Compa帽铆a present贸 el correspondiente Certificate of Amendment. Estas acciones cambian ciertos derechos sobre los valores y permiten la emisi贸n de los instrumentos de la Serie I mencionados anteriormente.
AYRO, Inc.電� 韸轨爼 瓿奠澑 韴瀽鞛愲摛鞐愱矊 靸堧 歆�鞝曤悳 鞁滊Μ歃� I 鞝勴櫂 鞖办劆欤� 氚� 甏�霠� 鞗岆煱韸鸽ゼ 氚滍枆頃橁赴 鞙勴暣 Securities Purchase Agreement毳� 觳搓舶頄堨姷雼堧嫟. 須岇偓電� 鞎‰┐臧�臧� 欤茧嫻 $1,000鞚� 鞁滊Μ歃� I 鞖办劆欤� 7,000欤�毳� 齑濌磩頃橃棳 韺愲Г頃橁赴搿� 頃╈潣頄堨溂氅�, 鞚� 鞖办劆欤茧姅 齑堦赴 鞝勴櫂臧�鞎� 欤茧嫻 $8.00搿� 斓滊寑 875,000欤�鞚� 氤错喌欤茧 鞝勴櫂霅� 靾� 鞛堨姷雼堧嫟. 瓯半灅鞐愲姅 霕愴暅 頄夓偓臧�瓴� 欤茧嫻 $8.00搿� 齑濌硠 斓滊寑 875,000欤�鞚� 氤错喌欤茧ゼ 旆摑頃� 靾� 鞛堧姅 鞗岆煱韸戈皜 韽暔霅╇媹雼�. 須岇偓電� 鞁滊Μ歃� I 鞖办劆欤茧ゼ 彀届劋頃橂姅 Certificate of Designations毳� 鞝滌稖頄堨姷雼堧嫟.
須岇偓電� 霕愴暅 鞁滊Μ歃� H-7 Certificate of Designations鞐� 雽�頃� 靾橃爼靹滊ゼ 鞝滌稖頄堨溂氅�, 瓿奠嫓霅� 氚旍檧 臧欖澊 鞚� 靾橃爼鞚� 毵岅赴鞚检潉 2027雲� 2鞗� 4鞚茧 鞐办灔頃橁碃 氚半嫻旮� 氚� 頃犽秬 歆�旮夓暋鞚� 歆�旮夓澕瓿� 歆�旮夓暋鞚� 靾橃爼頃橂┌ 'Excluded Securities'鞚� 鞝曥潣毳� 氤�瓴巾晿瓿� 頃犽秬 鞚检爼響滊ゼ 臁办爼頃╇媹雼�. 鞁滊Μ歃� H-7 氤挫湢鞛愲摛鞚� 氅挫牅 氚� 霃欖潣毳� 鞝滉车頄堨溂氅� 須岇偓電� 甏�霠� Certificate of Amendment毳� 鞝滌稖頄堨姷雼堧嫟. 鞚措煬頃� 臁办箻霌れ潃 韸轨爼 歃濌秾 甓岆Μ毳� 氤�瓴巾晿瓿� 鞙勳棎靹� 鞏戈笁頃� 鞁滊Μ歃� I 歃濌秾鞚� 氚滍枆鞚� 臧�電ロ晿瓴� 頃╇媹雼�.
AYRO, Inc. a conclu un Securities Purchase Agreement pour 茅mettre une nouvelle S茅rie I d'actions privil茅gi茅es convertibles et les bons d'achat (warrants) associ茅s 脿 certains investisseurs accr茅dit茅s. La Soci茅t茅 a accept茅 de vendre au total 7鈥�000 actions de S茅rie I Preferred Stock d'une valeur nominale de 1鈥�000 $ par action, initialement convertibles en jusqu'脿 875鈥�000 actions ordinaires 脿 un prix de conversion initial de 8,00 $ par action. La transaction comprend 茅galement des warrants permettant d'acqu茅rir jusqu'脿 un total de 875鈥�000 actions ordinaires 脿 un prix d'exercice de 8,00 $ par action. La Soci茅t茅 a d茅pos茅 le Certificate of Designations cr茅ant la S茅rie I Preferred Stock.
La Soci茅t茅 a par ailleurs d茅pos茅 un amendement au Certificate of Designations de la S茅rie H-7 qui, comme indiqu茅, prolonge la date d'茅ch茅ance au 4 f茅vrier 2027, r茅vise les dates et montants de paiement des dividendes et des 茅ch茅ances, modifie la d茅finition de 'Excluded Securities' et ajuste le calendrier des dates d'茅ch茅ance. Les d茅tenteurs de la S茅rie H-7 ont fourni des renonciations et des consentements et la Soci茅t茅 a d茅pos茅 le Certificate of Amendment correspondant. Ces mesures modifient certains droits sur les titres et permettent l'茅mission des titres de la S茅rie I mentionn茅s ci鈥慸essus.
AYRO, Inc. hat einen Securities Purchase Agreement abgeschlossen, um eine neu bezeichnete Serie I von wandelbaren Vorzugsaktien und zugeh枚rige Warrants an bestimmte akkreditierte Investoren auszugeben. Das Unternehmen vereinbarte den Verkauf von insgesamt 7.000 Aktien der Serie I Preferred Stock mit einem Nennwert von $1.000 pro Aktie, die zun盲chst in bis zu 875.000 Aktien Stammaktien zu einem anf盲nglichen Umwandlungspreis von $8.00 pro Aktie umwandelbar sind. Die Transaktion umfasst au脽erdem Warrants zum Erwerb von insgesamt bis zu 875.000 Aktien Stammaktien zu einem Aus眉bungspreis von $8.00 pro Aktie. Das Unternehmen reichte das Certificate of Designations ein, das die Serie I Preferred Stock schafft.
Das Unternehmen reichte au脽erdem eine 脛nderung des Certificate of Designations f眉r die Serie H-7 ein, die, wie mitgeteilt, das F盲lligkeitsdatum auf den 4. Februar 2027 verl盲ngert, Zahlungstermine und zahlbare Betr盲ge f眉r Dividenden und Raten anpasst, die Definition von 'Excluded Securities' 盲ndert und den Zeitplan der Ratenzahlungstermine anpasst. Inhaber der Serie H-7 erteilten Verzichtserkl盲rungen und Zustimmungen, und das Unternehmen reichte das entsprechende Certificate of Amendment ein. Diese Ma脽nahmen 盲ndern bestimmte Wertpapierrechte und erm枚glichen die Ausgabe der oben genannten Serie-I-Wertpapiere.
- None.
- None.
Insights
TL;DR: Company secured investor commitments via Series I preferred and warrants, creating capital but introducing convertible dilution at $8.00 per share.
The issuance of 7,000 Series I Convertible Preferred shares with a stated value of $1,000 each and associated warrants convertible/exercisable into up to 875,000 common shares represents a financing structure that provides near-term investor funding capacity. The conversion and warrant strike at $8.00 implies a fixed potential share issuance that investors should model for dilution when calculating fully diluted share counts. The filing of the Certificate of Designations indicates the preferred was formally created and will carry specific rights that may affect common shareholders depending on conversion and exercise activity.
TL;DR: Amendments to Series H-7 and consent to Series I issuance alter prior preferred-holder rights and extend payment obligations.
The Series H-7 Certificate of Designations was amended to extend the maturity date to February 4, 2027, revise dividend and installment schedules, and modify the definition of "Excluded Securities." Series H-7 holders executed waivers and consents to permit the Series I issuance and agreed to amendments memorialized by a Certificate of Amendment. These governance actions change contractual rights among security classes and are material to capital structure and creditor/preferred-holder priorities under future scenarios.
AYRO, Inc. ha stipulato un Securities Purchase Agreement per emettere una nuova Serie I di azioni preferenziali convertibili e i relativi warrant a determinati investitori accreditati. La Societ脿 ha concordato la vendita di un totale di 7,000 azioni di Serie I Preferred Stock con un valore nominale di $1,000 per azione, inizialmente convertibili in fino a 875,000 azioni ordinarie a un prezzo di conversione iniziale di $8.00 per azione. L'operazione include inoltre warrant per acquisire complessivamente fino a 875,000 azioni ordinarie a un prezzo di esercizio di $8.00 per azione. La Societ脿 ha depositato il Certificate of Designations che istituisce la Serie I Preferred Stock.
La Societ脿 ha anche depositato una modifica al Certificate of Designations della Serie H-7 che, come comunicato, estende la data di scadenza al 4 febbraio 2027, rivede le date di pagamento e gli importi dovuti per dividendi e rate, modifica la definizione di 'Excluded Securities' e adegua il calendario delle date delle rate. I detentori della Serie H-7 hanno fornito rinunce e consensi e la Societ脿 ha depositato il relativo Certificate of Amendment. Queste azioni alterano alcuni diritti sui titoli e consentono l'emissione delle azioni di Serie I sopra indicate.
AYRO, Inc. celebr贸 un Securities Purchase Agreement para emitir una nueva Serie I de acciones preferentes convertibles y los warrants relacionados a determinados inversores acreditados. La Compa帽铆a acord贸 vender un total de 7,000 acciones de la Serie I Preferred Stock con un valor nominal de $1,000 por acci贸n, inicialmente convertibles en hasta 875,000 acciones ordinarias a un precio de conversi贸n inicial de $8.00 por acci贸n. La transacci贸n tambi茅n incluye warrants para adquirir hasta un total de 875,000 acciones ordinarias a un precio de ejercicio de $8.00 por acci贸n. La Compa帽铆a present贸 el Certificate of Designations que crea la Serie I Preferred Stock.
La Compa帽铆a adem谩s present贸 una enmienda al Certificate of Designations de la Serie H-7 que, seg煤n se inform贸, extiende la fecha de vencimiento hasta el 4 de febrero de 2027, revisa las fechas de pago y los importes a pagar por dividendos y cuotas, modifica la definici贸n de 'Excluded Securities' y ajusta el calendario de fechas de las cuotas. Los tenedores de la Serie H-7 otorgaron exenciones y consentimientos y la Compa帽铆a present贸 el correspondiente Certificate of Amendment. Estas acciones cambian ciertos derechos sobre los valores y permiten la emisi贸n de los instrumentos de la Serie I mencionados anteriormente.
AYRO, Inc.電� 韸轨爼 瓿奠澑 韴瀽鞛愲摛鞐愱矊 靸堧 歆�鞝曤悳 鞁滊Μ歃� I 鞝勴櫂 鞖办劆欤� 氚� 甏�霠� 鞗岆煱韸鸽ゼ 氚滍枆頃橁赴 鞙勴暣 Securities Purchase Agreement毳� 觳搓舶頄堨姷雼堧嫟. 須岇偓電� 鞎‰┐臧�臧� 欤茧嫻 $1,000鞚� 鞁滊Μ歃� I 鞖办劆欤� 7,000欤�毳� 齑濌磩頃橃棳 韺愲Г頃橁赴搿� 頃╈潣頄堨溂氅�, 鞚� 鞖办劆欤茧姅 齑堦赴 鞝勴櫂臧�鞎� 欤茧嫻 $8.00搿� 斓滊寑 875,000欤�鞚� 氤错喌欤茧 鞝勴櫂霅� 靾� 鞛堨姷雼堧嫟. 瓯半灅鞐愲姅 霕愴暅 頄夓偓臧�瓴� 欤茧嫻 $8.00搿� 齑濌硠 斓滊寑 875,000欤�鞚� 氤错喌欤茧ゼ 旆摑頃� 靾� 鞛堧姅 鞗岆煱韸戈皜 韽暔霅╇媹雼�. 須岇偓電� 鞁滊Μ歃� I 鞖办劆欤茧ゼ 彀届劋頃橂姅 Certificate of Designations毳� 鞝滌稖頄堨姷雼堧嫟.
須岇偓電� 霕愴暅 鞁滊Μ歃� H-7 Certificate of Designations鞐� 雽�頃� 靾橃爼靹滊ゼ 鞝滌稖頄堨溂氅�, 瓿奠嫓霅� 氚旍檧 臧欖澊 鞚� 靾橃爼鞚� 毵岅赴鞚检潉 2027雲� 2鞗� 4鞚茧 鞐办灔頃橁碃 氚半嫻旮� 氚� 頃犽秬 歆�旮夓暋鞚� 歆�旮夓澕瓿� 歆�旮夓暋鞚� 靾橃爼頃橂┌ 'Excluded Securities'鞚� 鞝曥潣毳� 氤�瓴巾晿瓿� 頃犽秬 鞚检爼響滊ゼ 臁办爼頃╇媹雼�. 鞁滊Μ歃� H-7 氤挫湢鞛愲摛鞚� 氅挫牅 氚� 霃欖潣毳� 鞝滉车頄堨溂氅� 須岇偓電� 甏�霠� Certificate of Amendment毳� 鞝滌稖頄堨姷雼堧嫟. 鞚措煬頃� 臁办箻霌れ潃 韸轨爼 歃濌秾 甓岆Μ毳� 氤�瓴巾晿瓿� 鞙勳棎靹� 鞏戈笁頃� 鞁滊Μ歃� I 歃濌秾鞚� 氚滍枆鞚� 臧�電ロ晿瓴� 頃╇媹雼�.
AYRO, Inc. a conclu un Securities Purchase Agreement pour 茅mettre une nouvelle S茅rie I d'actions privil茅gi茅es convertibles et les bons d'achat (warrants) associ茅s 脿 certains investisseurs accr茅dit茅s. La Soci茅t茅 a accept茅 de vendre au total 7鈥�000 actions de S茅rie I Preferred Stock d'une valeur nominale de 1鈥�000 $ par action, initialement convertibles en jusqu'脿 875鈥�000 actions ordinaires 脿 un prix de conversion initial de 8,00 $ par action. La transaction comprend 茅galement des warrants permettant d'acqu茅rir jusqu'脿 un total de 875鈥�000 actions ordinaires 脿 un prix d'exercice de 8,00 $ par action. La Soci茅t茅 a d茅pos茅 le Certificate of Designations cr茅ant la S茅rie I Preferred Stock.
La Soci茅t茅 a par ailleurs d茅pos茅 un amendement au Certificate of Designations de la S茅rie H-7 qui, comme indiqu茅, prolonge la date d'茅ch茅ance au 4 f茅vrier 2027, r茅vise les dates et montants de paiement des dividendes et des 茅ch茅ances, modifie la d茅finition de 'Excluded Securities' et ajuste le calendrier des dates d'茅ch茅ance. Les d茅tenteurs de la S茅rie H-7 ont fourni des renonciations et des consentements et la Soci茅t茅 a d茅pos茅 le Certificate of Amendment correspondant. Ces mesures modifient certains droits sur les titres et permettent l'茅mission des titres de la S茅rie I mentionn茅s ci鈥慸essus.
AYRO, Inc. hat einen Securities Purchase Agreement abgeschlossen, um eine neu bezeichnete Serie I von wandelbaren Vorzugsaktien und zugeh枚rige Warrants an bestimmte akkreditierte Investoren auszugeben. Das Unternehmen vereinbarte den Verkauf von insgesamt 7.000 Aktien der Serie I Preferred Stock mit einem Nennwert von $1.000 pro Aktie, die zun盲chst in bis zu 875.000 Aktien Stammaktien zu einem anf盲nglichen Umwandlungspreis von $8.00 pro Aktie umwandelbar sind. Die Transaktion umfasst au脽erdem Warrants zum Erwerb von insgesamt bis zu 875.000 Aktien Stammaktien zu einem Aus眉bungspreis von $8.00 pro Aktie. Das Unternehmen reichte das Certificate of Designations ein, das die Serie I Preferred Stock schafft.
Das Unternehmen reichte au脽erdem eine 脛nderung des Certificate of Designations f眉r die Serie H-7 ein, die, wie mitgeteilt, das F盲lligkeitsdatum auf den 4. Februar 2027 verl盲ngert, Zahlungstermine und zahlbare Betr盲ge f眉r Dividenden und Raten anpasst, die Definition von 'Excluded Securities' 盲ndert und den Zeitplan der Ratenzahlungstermine anpasst. Inhaber der Serie H-7 erteilten Verzichtserkl盲rungen und Zustimmungen, und das Unternehmen reichte das entsprechende Certificate of Amendment ein. Diese Ma脽nahmen 盲ndern bestimmte Wertpapierrechte und erm枚glichen die Ausgabe der oben genannten Serie-I-Wertpapiere.
FAQ
What did AYRO (AYRO) create in this 8-K?
How many Series I shares and convertible common shares are involved?
What are the conversion and warrant exercise prices for the new securities?
What changes were made to the Series H-7 terms?
Did Series H-7 holders consent to the Series I issuance?
