Eastside Distilling Files 8-K for Material Agreement

TL;DR

Eastside Distilling just signed a big deal, filing an 8-K to let everyone know.

AI Summary

On September 5, 2024, Eastside Distilling, Inc. entered into a material definitive agreement. The company, incorporated in Nevada with its principal executive offices in Portland, Oregon, filed this 8-K report to disclose this event. The filing also includes other events and financial statements and exhibits.

Why It Matters

This filing indicates a significant new agreement for Eastside Distilling, Inc., which could impact its business operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

• Eastside Distilling, Inc. (company) — Registrant
• Nevada (jurisdiction) — State of incorporation
• Portland, Oregon (location) — Principal executive offices
• September 5, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ction 12(b) of the Act: Common Stock, $0.0001 par value EAST The Nasdaq Stock Mar
• $1.00 — (the "Offering") at a purchase price of $1.00 per share or $0.9999 per Pre-Funded War
• $0.9999 — a purchase price of $1.00 per share or $0.9999 per Pre-Funded Warrant. The closing of
• $442,000, b — de from the Offering were approximately $442,000, before deducting the placement agent fees

Filing Documents

• form8-k.htm (8-K) — 47KB
• ex4-1.htm (EX-4.1) — 113KB
• ex5-1.htm (EX-5.1) — 17KB
• ex10-1.htm (EX-10.1) — 231KB
• ex10-2.htm (EX-10.2) — 102KB
• ex99-1.htm (EX-99.1) — 11KB
• ex99-2.htm (EX-99.2) — 11KB
• 0001493152-24-035649.txt ( ) — 811KB
• east-20240905.xsd (EX-101.SCH) — 3KB
• east-20240905_lab.xml (EX-101.LAB) — 33KB
• east-20240905_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 4KB

01

Item 1.01. Entry into a Material Definitive Agreement. On September 5, 2024, Eastside Distilling, Inc. ("Eastside") entered into a Securities Purchase Agreement (the "Purchase Agreement") with a single institutional investor (the "Investor") for the sale by Eastside of 92,815 shares (the "Shares") of Eastside's common stock, par value $0.0001 per share, and pre-funded warrants to purchase 349,227 shares of common stock in lieu thereof (the "Pre-Funded Warrants") in a registered direct offering (the "Offering") at a purchase price of $1.00 per share or $0.9999 per Pre-Funded Warrant. The closing of the Offering occurred on September 6, 2024 (the "Closing Date"). (as adjusted from time to time in accordance with the terms thereof). In lieu of making the cash payment otherwise contemplated to be made upon exercise of the Pre-Funded Warrant, the holder may elect instead to receive upon such exercise (either in whole or in part) the net number of shares of common stock determined according to a cashless exercise formula set forth in the Pre-Funded Warrant. The holder of a Pre-Funded Warrant is prohibited from exercising such warrants to the extent that such exercise would result in the number of shares of common stock beneficially owned by such holder and its affiliates exceeding 4.99% or 9.99% (at the election of the Investor) of the total number of shares of common stock outstanding immediately after giving effect to the exercise. The gross proceeds to Eastside from the Offering were approximately $442,000, before deducting the placement agent fees and other estimated expenses in the Offering. Eastside intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering of the Shares and Pre-Funded Warrants was made pursuant to a shelf registration statement on Form S-3 (Fi

View Full Filing

View this 8-K filing on SEC EDGAR