Entry into a Material Definitive Agreement · Unregistered Sales of Equity Securities
Item 1.01. Entry Into a Material Definitive Agreement On October 22, 2026, GridAI Technologies Corp. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers identified therein (each such purchaser, a “Purchaser” and, collectively, the “Purchasers”) pursuant to which the Company agreed to sell to the Purchasers in private placements an aggregate o…
Filed Oct 28, 2026Accepted Oct 28, 2026, 4:16 PM EDTCIK 1604191Accession 0001104659-26-119636
The Company disputes the allegations and the amount claimed and, through legal counsel, is engaged in settlement discussions with WestPark. At this time, the outcome of the arbitration cannot be reasonably predicted. The Company has recorded an accrual of $202,000 related to this matter in its financial statements as of June 30, 2026.
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Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01. Entry Into a Material Definitive Agreement
On October 22, 2026, GridAI Technologies
Corp. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers
identified therein (each such purchaser, a “Purchaser” and, collectively, the “Purchasers”) pursuant to which
the Company agreed to sell to the Purchasers in private placements an aggregate of (i) pre-funded warrants to purchase up to an aggregate
of 462,365 shares of common stock (the “Pre-Funded Warrants”) and (ii) common stock purchase warrants to purchase up
to an aggregate of 462,365 shares of common stock (the “Common Warrants”) for gross proceeds to the Company of approximately
$2,150,000. The combined purchase price for one Pre-Funded Warrant together with one accompanying Common Warrant is US$4.65.
The Company intends to use the net proceeds for
general corporate purposes, which may include acquisitions and/or the repayment of outstanding debt, and working capital.
The Pre-Funded Warrants have an exercise price
of $0.0001 per share, subject to adjustment and no expiration date. The Pre-Funded Warrants will be exercisable immediately and may be
exercised at any time until all of the Pre-Funded Warrants are exercised in full.
The Common Warrants are exercisable immediately
and expire five years from the earlier of the effective date of the Registration Statement or the date that the common stock underlying
the Pre-Funded Warrants and Common Warrants can be resold without restriction or limitation pursuant to Rule 144. The Common Warrants
have an exercise price of US$4.525 per share, subject to adjustment as set forth in the Common Warrants for stock splits, stock dividends,
recapitalizations and similar customary adjustments. The Purchasers may exercise the Common Warrants on a cashless basis if the shares
of common stock underlying the Common Warrants are not then registered pursuant to an effective registration statement.
Under the Purchase Agreement, the Purchaser has
piggyback registration rights with respect to the shares of common stock issuable upon exercise of the Pre-Funded Warrants and Common
Warrants, subject to the notice, inclusion, and other conditions contained in the Purchase Agreement. The Company is not obligated under
the Purchase Agreement to initiate a resale registration statement solely for the Purchaser.
The foregoing descriptions of the Purchase Agreement,
Pre-Funded Warrants and Common Warrants do not purport to be complete and are qualified in their entirety by reference to the applicable
transaction documents, to be filed as Exhibits 10.1, 4.1 and 4.2, respectively, to this Current Report on Form 8-K.
Item 3.02Item 3.02 - Unregistered Sales of Equity
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure under Item 1.01 above is incorporated
herein by reference. On October 26, 2026, the Company issued the Pre-Funded Warrants and Common Warrants described in Item 1.01 above
in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, for
transactions not involving a public offering.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Description
No.
─────────────────────────────────────────────────────────────────────────────────────────────
4.1 Form of Pre-Funded Warrant
4.2 Form of Warrant
10.1 Form of Securities Purchase Agreement
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
Filed exhibits (2)
EX-4.1 (by filename) tm2628461d1_ex4-1.htm
Exhibit 4.1
NEITHER THIS SECURITY
NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.
PIPE PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK
GRIDAI TECHNOLOGIES CORP.
Warrant Shares: [_] Initial Exercise Date: [_], 2026
Issuance
Date: [_], 2026
THIS
PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, [__]
or its assigns (the “Holder”) is entitled, upon the terms and subje…
Open exhibit ↗EX-4.2 (by filename) tm2628461d1_ex4-2.htm
Exhibit 4.2
NEITHER THIS SECURITY
NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.
PIPE COMMON WARRANT TO PURCHASE COMMON STOCK
GRIDAI TECHNOLOGIES CORP.
Warrant Shares: [●] Initial Exercise Date: [●], 20261
Issuance Date: [●], 2026
THIS
WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, [●] or
its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the co…