UAS Drone Corp. Files 8-K on Material Agreement

TL;DR

UAS Drone Corp. signed a new material agreement on June 20th, filed June 24th.

AI Summary

UAS Drone Corp. filed an 8-K on June 24, 2024, reporting a material definitive agreement entered into on June 20, 2024. The filing also covers modifications to security holder rights and includes financial statements and exhibits. The company is incorporated in Nevada and its principal executive offices are located in Israel.

Why It Matters

This filing indicates a significant new agreement for UAS Drone Corp., which could impact its business operations and financial standing.

Risk Assessment

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

Key Players & Entities

• UAS Drone Corp. (company) — Registrant
• June 24, 2024 (date) — Filing Date
• June 20, 2024 (date) — Earliest Event Reported Date
• Nevada (jurisdiction) — State of Incorporation
• 10 HaRimon Street, Mevo Carmel Science and Industrial Park, Israel (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.40 — ant exercise price and increase it from $0.40 per share to $0.65 per share; and (iii)
• $0.65 — and increase it from $0.40 per share to $0.65 per share; and (iii) include a benefici

Filing Documents

• ea0208167-8k_uasdrone.htm (8-K) — 29KB
• ea020816701ex10-1_uasdrone.htm (EX-10.1) — 16KB
• 0001213900-24-054982.txt ( ) — 212KB
• usdr-20240620.xsd (EX-101.SCH) — 3KB
• usdr-20240620_lab.xml (EX-101.LAB) — 33KB
• usdr-20240620_pre.xml (EX-101.PRE) — 22KB
• ea0208167-8k_uasdrone_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On June 20, 2024, UAS Drone Corp. (the "Company") entered into a warrant amendment agreement (the "Warrant Amendment Agreement"), with certain existing warrant holders (the "Holders") of certain common stock purchase warrants, issued by the Company to such Holders in connection with certain securities purchase agreement, dated as of May 11, 2021, by and between the Company and each such Holder. Such warrants were previously amended by certain warrant amendment agreements, dated as of November 5, 2022 and as of November 1, 2023. According to the Warrant Amendment Agreement the Company and Holders agreed to (i) extend the warrant exercise term to May 11, 2026; (ii) amend the warrant exercise price and increase it from $0.40 per share to $0.65 per share; and (iii) include a beneficial ownership blocker that limits the exercise of such warrants if such exercise would result in the holder beneficially owning in excess of 19.99% of the number of shares of the Company's common stock immediately after giving effect to the issuance of shares of common stock issuable upon exercise of the warrant. The foregoing summary of the Warrant Amendment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Warrant Amendment Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference to this Current Report on Form 8-K (the "Report").

03. Material Modification

Item 3.03. Material Modification to Rights of Security Holders. The information contained in Item 1.01 and Exhibit 10.1 to this Report are incorporated herein by reference.

01. Financial Statements

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 10.1 Form of Warrant Amendment Agreement, dated June 20, 2024, between UAS Drone Corp. and certain warrant holders 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. UAS DRONE CORP. Dated: June 24, 2024 By: /s/ Yossef Balucka Name: Yossef Balucka Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR