Avant Technologies Enters Material Definitive Agreement

TL;DR

Avant Tech just signed a big deal, date July 17, 2024. Details to come.

AI Summary

Avant Technologies, Inc. entered into a Material Definitive Agreement on July 17, 2024. The company, formerly known as Trend Innovations Holding Inc., is based in Las Vegas, Nevada.

Why It Matters

This filing indicates a significant new contract or partnership for Avant Technologies, which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The filing is a standard 8-K for a material agreement, but the specific terms and financial implications are not yet detailed, requiring further information to assess risk.

Key Players & Entities

• AVANT TECHNOLOGIES, INC. (company) — Registrant
• TREND INNOVATIONS HOLDING INC. (company) — Former name of registrant
• July 17, 2024 (date) — Date of earliest event reported
• Las Vegas, NV (location) — Business and mailing address

FAQ

Key Financial Figures

• $20,000,000 — ) having an aggregate Purchase Price of $20,000,000, subject to certain limitations and con
• $0.50 — e Pricing Period, subject to a floor of $0.50 per share, below which the Company shal
• $10,000 — be made in an amount equaling less than $10,000 or greater than $500,000. Puts are furt
• $500,000 — aling less than $10,000 or greater than $500,000. Puts are further limited to GHS owning

Filing Documents

• avai_8k.htm (8-K) — 30KB
• ex10_1.htm (EX-10.1) — 148KB
• ex10_2.htm (EX-10.1) — 68KB
• 0001740797-24-000035.txt ( ) — 469KB
• avai-20240717.xsd (EX-101.SCH) — 3KB
• avai-20240717_lab.xml (EX-101.LAB) — 33KB
• avai-20240717_pre.xml (EX-101.PRE) — 22KB
• avai_8k_htm.xml (XML) — 3KB

01. Entry into a Material

Item 1.01. Entry into a Material Definitive Agreement. On July 17, 2024 (the "Effective Date"), Avant Technologies, Inc. (the "Company") entered into an equity financing agreement (the "Equity Financing Agreement") and a registration rights agreement (the "Registration Rights Agreement") with GHS Investments, LLC ("GHS"), pursuant to which GHS shall purchase from the Company, up to that number of shares of common stock of the Company (the "Shares") having an aggregate Purchase Price of $20,000,000, subject to certain limitations and conditions set forth in the Equity Financing Agreement from time to time over the course of 24 months after an effective registration of the Shares with the Securities and Exchange Commission (the "SEC") pursuant to the Registration Rights Agreement, is declared effective by the SEC (the "Contract Period"). The Equity Financing Agreement grants the Company the right, from time to time at its sole discretion (subject to certain conditions) during the Contract Period, to direct GHS to purchase shares of Common Stock on any business day (a "Put"), provided that at least ten trading days has passed since the most recent Put. The purchase price of the shares of Common Stock contained in a Put will be 80% of the lowest traded price of the Company's Common Stock during the ten consecutive trading days preceding the receipt by GHS of the applicable Put notice. Following an up-list to the NASDAQ or an equivalent national exchange by the Company - if at all, the Purchase price shall mean ninety percent (90%) of the lowest volume weighted average price during the Pricing Period, subject to a floor of $0.50 per share, below which the Company shall not deliver a Put. Such sales of Common Stock by the Company, if any, may occur from time to time, at the Company's option, during the Contract Period. Subject to the satisfaction of certain conditions set forth in the Equity Financing Agreement, on each Put the Company will deliver an amount of Shares

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Equity Financing Agreement between Avant Technologies, Inc. and GHS Investments, LLC dated July 17, 2024 10.2 Registration Rights Agreement between Avant Technologies, Inc. and GHS Investments, LLC dated July 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: July 22, 2024 AVANT TECHNOLOGIES, INC. By: /s/ Vitalis Racius Name: Vitalis Racius Title: Chief Operating Officer, Director & Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR