Item 1.01 Entry into a Material Definitive Agreement
On April 18, 2023, Oblong, Inc. (the "Company") entered into warrant exercise
inducement offer letters ("Warrant Repricing Letters") with certain holders of
outstanding (i) series A warrants to purchase shares of the Company's common
stock, (ii) series B warrants to purchase shares of the Company's common stock,
(iii) warrants to purchase shares of the Company's common stock originally
issued on October 2020 and (iii) warrants to purchase shares of the Company's
common stock originally issued on December 2020 (such holders, the "Exercising
Holders," and such warrants, the "Existing Warrants"), pursuant to which the
Exercising Holders agreed to exercise, for cash, Existing Warrants to purchase,
in the aggregate, 339,498 shares of the Company's common stock (the "Existing
Warrant Shares"), in exchange for the Company's agreement to lower the exercise
price of the Existing Warrants to $1.71. Additionally, the Exercising Holders
agreed not to sell, transfer or otherwise dispose of any shares of Company
common stock acquired in the exercise of the amended Existing Warrants from
April 18, 2023 and through and including April 24, 2023.
The foregoing summaries of the Warrant Repricing Letters do not purport to be
complete and are subject to, and qualified in their entirety by, the forms of
such documents attached as Exhibits 10.1 and 4.1, respectively, to this Current
Report on Form 8-K, which are incorporated herein by reference.
Item 3.03. Material Modifications to Rights of Securityholders.
The information contained in Item 1.01 of this Current Report on Form 8-K is
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 Form of Warrant Repricing Letter.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document) .
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