Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 530

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 530
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 the Company entered into a Securities Purchase Agreement (the “Purchase
Agreement”) with certain investors (the “Investors”), pursuant to which the Company sold to the Investors an aggregate
of 865,856 shares (the “Shares”) of the Company’s common stock at a purchase price of $0.82 per Share (the “Private
Placement”). The Company received aggregate gross proceeds from the Private Placement of approximately $0.71 million. The Shares
are being offered and sold in reliance on the exemption from registration under the Securities Act of 1933, as amended, provided by Section
4(a)(2) and Regulation D promulgated thereunder for transactions not involving a public offering.

The
Purchase Agreement contains representations and warranties of the Company and the Investors that are typical for transactions of this
type. The Purchase Agreement also contains covenants on the part of the Company that are typical for transactions of this type.

Series
A Financing

On
May 30, 2023, Forever 8 (the “Borrower”) entered into a Loan and
Security Agreement (the “Agreement”) with several individuals, financial institutions and entities as lenders.
Under the terms of the Agreement, each lender will severally (and not jointly) make available to Borrower, in an amount not to exceed
its respective Commitment, a Loan Advance amount to be determined by the lender (as such amount may be increased, the “Aggregate
Commitment”) in the aggregate, of which (x) a certain amount will be deposited into an account of the Borrower in accordance with
its written instructions (the “Initial Loan Advance”) and (y) the remaining balance of the Aggregate Commitment after deducting
the Initial Loan Advance shall be deposited into the Escrow Account (the “Escrow Funds”). The Borrower may, at any time,
request an advance for all or a portion of the Escrow Funds (each such advance, a “Subsequent Draw”).

The
Borrower issued a Promissory Note to each of the lenders in the amount of the lender’s respective Initial
Loan Advance. The principal balance of the Initial Loan Advance and each Subsequent Draw shall bear interest thereon from the Closing
Date and applicable Advance Date, respectively, at 15.00% per annum. The Borrower shall pay each lender, according to its Applicable
Percentage, an unused commitment fee on the actual daily amount of the Unused Commitment Amount during the immediately preceding calendar
quarter at the