SEC Filing Summary: Western Acquisition Ventures Corp. (8-K)
Business Context and Reporting Period
This Form 8-K was filed by Western Acquisition Ventures Corp. on January 30, 2025, reporting events occurring on January 24, 2025. The filing details the entry into material definitive agreements to facilitate a proposed business combination with Cycurion, Inc. The registrant is classified as an emerging growth company.
Key Financial Metrics and Agreements
The filing discloses two new promissory notes executed to fund transaction expenses related to the business combination:
- Sponsor Promissory Note: Western Acquisition Ventures Corp. entered into a note with Western Acquisition Ventures Sponsor LLC. The note face value is $555,555.56, allowing the Company to borrow up to an aggregate principal amount of $500,000.00.
- Cycurion Promissory Note: Western Acquisition Ventures Corp. entered into a note with Cycurion, Inc. The note face value is $327,777.78, allowing Cycurion to borrow up to an aggregate principal amount of $295,000.00 from the Company.
The filing text does not provide clear values for revenue, profit, cash flow, margins, or existing debt levels outside of these specific new agreements.
Material Changes
The primary material change is the establishment of new debt facilities between the registrant, its sponsor, and the target company (Cycurion) specifically to cover transaction expenses associated with the pending business combination.
Outlook, Risks, and Management Commentary
Management commentary is limited to the execution of the agreements. The filing indicates that the summaries of the promissory notes are qualified in their entirety by the full text of the agreements filed as Exhibits 10.1 and 10.2. No specific guidance, risk factors, or contingencies beyond the transaction expenses are detailed in the provided text.
Key Facts for Investor Verification
- Verify the full terms of the Sponsor Promissory Note (Exhibit 10.1) and Cycurion Promissory Note (Exhibit 10.2), including interest rates, maturity dates, and repayment conditions.
- Confirm the status of the proposed business combination between Western Acquisition Ventures Corp. and Cycurion, Inc.
- Assess the impact of the new $500,000 and $295,000 borrowing capacities on the Company's liquidity and capital structure.
- Review the Company's status as an emerging growth company and any associated reporting exemptions.