Form 8-K - Current report
February 09 2024 - 8:30AM
Edgar (US Regulatory)
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2024-02-08
2024-02-08
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported) February 8, 2024
AGEAGLE
AERIAL SYSTEMS INC.
(Exact
Name of Registrant as Specified in Its Charter)
Nevada |
|
001-36492 |
|
88-0422242 |
(State
or Other Jurisdiction
of
Incorporation) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
8201
E. 34th Cir N
Wichita,
Kansas |
|
67226 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
(620)
325-6363
(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 (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
UAVS |
|
NYSE
American |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☐
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. ☐
Item
8.01. Other Events.
As
previously reported in a Current Report on Form 8-K filed on February 8, 2024 (the
“Signing Form 8-K”), AgEagle Aerial Systems Inc. (the “Company”), entered into (i) an
Amendment Agreement, dated as of February 8, 2024 to its Securities Purchase Agreement
with Alpha Capital Anstalt (“Alpha”) (the “Series F Amendment Agreement”); and (ii) a
Securities Exchange Agreement, dated as of February 8, 2024, with Alpha (the “Exchange Agreement”).
The
foregoing descriptions of the Series F Amendment Agreement
and Exchange Agreement do not purport to be complete and are qualified in their entirety by references
to the Series F Amendment Agreement and Exchange Agreement filed as Exhibits 10.1 and 10.2
to the Signing Form 8-K, respectively, and incorporated by reference herein.
As
disclosed in the Signing Form 8-K, the closing of the transactions pursuant to the Exchange Agreement was subject to completion of the
closing conditions set forth therein, including, without limitation, the authorization of the Supplemental Listing Application by the
NYSE American (“NYSE SLAP”). All closing conditions, including the authorization of the NYSE SLAP were satisfied on
February 8, 2024. Pursuant to the terms of the Exchange Agreement, at closing, the Convertible Note (defined in the Signing Form 8-K)
was issued to Alpha.
Item
2.03 Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As
described above and in the Signing Form 8-K, on February 8, 2024, the Company issued the Convertible Note, which is convertible into
shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) at an initial conversion price
of $0.10 per share of Common Stock, subject to adjustment based on the Company’s reverse stock split, and as otherwise described
therein.
The
foregoing description of the Convertible Note does not purport to be complete and is qualified in its entirety by reference to the Convertible
Note, filed as Exhibit 10.3 to the Signing Form 8-K and incorporated by reference herein.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
AGEAGLE
AERIAL SYSTEMS INC. |
|
|
|
|
By:
|
/s/
Mark DiSiena |
|
Name:
|
Mark
DiSiena |
|
Title: |
Chief
Financial Officer |
Dated:
February 9, 2024 |
|
|
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