false000138187126-4144571NYNYSEAMER
0001381871
2022-07-13
2022-07-13
SECURITIES AND EXCHANGE COMMISSION
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction | | | | |
99 Wall Street, Suite 744 | | |
(Address of principal executive offices) | | |
Registrant’s telephone number, including area code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| | | | Name of Each Exchange on Which Registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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| Entry into a Material Definitive Agreement. |
On July 25, 2022, Cruzani, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “SPA”) and warrant to purchase 1,500,000,000 shares (the “Warrant”), each convertible into shares of common stock of the Company (the “Common Stock”) with an institutional investor (the “Investor”) in connection with the issuance of a convertible note of the Company in favor of the Investor in the aggregate principal amount of $165,000.00 (the “Note”).
The Note bears interest at the rate of 12% per annum and has a maturity date of June 15, 2023. In the event of a qualifying public offering of common stock by the Company prior to the maturity date, the Note shall be immediately payable from certain proceeds such offering.
The Warrant has a seven-year term from the date of issuance, is exercisable from the date of issuance, and includes “full-rachet” anti-dilution protection.
| Financial Statements and Exhibits. |
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.