AVANT TECHNOLOGIES Reports Material Agreement, Officer Changes

TL;DR

**AVAI just announced a new material agreement and officer changes, watch for strategic shifts.**

AI Summary

AVANT TECHNOLOGIES INC. (AVAI) filed an 8-K on January 19, 2024, reporting events from January 17, 2024, including entering into a material definitive agreement and changes in directors or officers. This matters to investors because significant agreements and leadership changes can impact the company's strategic direction, financial health, and future stock performance, potentially signaling new opportunities or risks.

Why It Matters

New material agreements can open up new revenue streams or partnerships, while changes in leadership can signal a shift in company strategy or address performance issues.

Risk Assessment

Risk Level: medium — The filing indicates significant corporate actions without providing specific details, creating uncertainty about their potential positive or negative impact.

Analyst Insight

Investors should monitor AVANT TECHNOLOGIES INC. for subsequent filings or press releases that provide specific details about the material definitive agreement and the changes in officers/directors to assess their potential impact on the company's future.

Key Players & Entities

• AVANT TECHNOLOGIES INC. (company) — registrant filing the 8-K
• TREND INNOVATIONS HOLDING INC. (company) — former name of AVANT TECHNOLOGIES INC.
• January 17, 2024 (date) — date of earliest event reported
• January 19, 2024 (date) — date the 8-K was filed

Forward-Looking Statements

• AVANT TECHNOLOGIES INC. will provide more details on the 'Material Definitive Agreement' in a subsequent filing or press release. (AVANT TECHNOLOGIES INC.) — medium confidence, target: Q1 2024
• The changes in directors or officers will lead to a noticeable shift in the company's strategic focus. (AVANT TECHNOLOGIES INC.) — low confidence, target: Q2 2024

FAQ

Key Financial Figures

• $200,000 — l receive an annual base cash salary of $200,000 plus an annual cash bonus equal to 25%
• $1 — at that date with an exercise price of $1.01, subject to the following key terms:
• $0.10 — discount shall at no point be less than $0.10 per share. Notwithstanding the forego
• $300,000 — hall pay a one-time up-listing bonus of $300,000 in the form of an RSA, which shall be p

Filing Documents

• avai8k_j.htm (8-K) — 28KB
• emplagreem10_1.htm (EX-10.1) — 68KB
• 0001740797-24-000003.txt ( ) — 279KB
• avai-20240117.xsd (EX-101.SCH) — 3KB
• avai-20240117_lab.xml (EX-101.LAB) — 33KB
• avai-20240117_pre.xml (EX-101.PRE) — 22KB
• avai8k_j_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On January 17, 2024, the Avant Technologies, Inc. (the "Company") entered into an Employment Agreement (the Agreement) with Jared Pelski, and appoint Mr. Pelski to serves a Vice President – Business Development of the Company. Jared Pelski is not a relative of any director or executive officer of the Company and does not own more than 5% of the Company's outstanding common stock. Jared Pelski will undertake the responsibilities of Vice President of Business Development, without concurrent membership on the board.

02 Departure of Directors or Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers In consideration for serving as Vice President – Business Development, Mr. Pelski will receive an annual base cash salary of $200,000 plus an annual cash bonus equal to 25% of the annual base salary, to be paid no later than March 15th of the year immediately following the year in which the bonus was earned. In addition, Mr. Pelski will be eligible to equity compensation as follows: (i) Incentive Stock Options (ISOs): Effective upon the initiation of employment (the "Start Date"), Mr. Pelski shall receive an initial option grant in the form of an ISO, in a quantity equivalent to 0.6% of the total outstanding common stock of the Company at that date with an exercise price of $1.01, subject to the following key terms: (a) 4-year vesting, with 1-year cliff (25% to vest immediately on the 10yr anniversary of the Start Date, the remaining 75% to ratably vest monthly (1/36 each month) thereafter);. (ii) Restricted Stock Awards (RSAs): The Company shall grant Mr. Pelski a bonus to Employee in an amount equal to the estimated tax owed by Employee in connection to the RSA Issuance. The number of shares of common stock to be issued in such case will be determined by dividing that portion of the Quarterly RSA payable in Stock by 85% of the Company's ten-day Volume Weighted Average Price ("VWAP") of the Company's shares of common stock, for the ten-day period immediately prior to the date of issuance. This represents a 15% discount to the relevant VWAP, which discount shall at no point be less than $0.10 per share. Notwithstanding the foregoing, if the Company is listed on Nasdaq or any other National Stock Exchange while Mr. Pelski is employed by, or performing advisory services for, the Company in any capacity, the Company shall pay a one-time up-listing bonus of $300,000 in the form of an RSA, which shall be payabl

01 Financial Statements and

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Employment Agreement between Avant Technologies Inc. and Jared Pelski dated January 17, 2023

SIGNATURES

SIGNATURES In accordance with the requirements of the Securities Act of 1933, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: January 19, 2023 AVANT TECHNOLOGIES, INC. By: /s/ Vitalis Racius Name: Vitalis Racius Title: Chief Financial Officer, Director & Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR