Company: TOGIW
Filing Date: 2025-10-29
Form Type: 8-K
Source: 0001214659-25-015513
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Company: TurnOnGreen, Inc.
Filing Date: 2025-10-29
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On October 29, 2025 (the “ Execution
Date”), TurnOnGreen, Inc., a Nevada corporation (the “ Company”) entered into a Securities Purchase
Agreement (the “ Agreement”) with SJC Lending LLC, a Delaware limited liability company
(“SJC”), pursuant to which the Company agreed to sell to SJC convertible promissory notes in the aggregate
principal amount of up to $1,650,000 (the “ Convertible Notes”) for a total purchase price of up to $1.5 million
(the “ Loan”).

The consummation of the transactions contemplated
by the Agreement is subject to various customary closing conditions.

In addition, SJC entered into various collateral
agreements in support of the Convertible Notes, including: (i) an Intellectual Property Security Agreement (the “ IP Security
Agreement”), pursuant to which the Company and its subsidiaries, Digital Power Corporation, a Delaware corporation (“ Digital
Power”), and TOG Technologies, Inc., a Nevada corporation (“TOGT” and, together with Digital Power, collectively,
the “Company’s Subsidiaries”), granted SJC a continuing security interest in all of their right, title, and interest
in certain trademarks, copyrights, patents, and mask works; (ii) a Security Agreement (the “ Security Agreement”), pursuant
to which the Company and the Company’s Subsidiaries granted SJC a security interest in substantially all of their respective assets
as collateral for repayment of the Convertible Notes; and (iii) a Pledge Agreement (the “ Pledge Agreement”), pursuant
to which the Company pledged the capital stock of the Company’s Subsidiaries as additional collateral.