Business Context and Reporting Period
This Form 6-K filing by Freight Technologies, Inc. covers the month of August 2022, with the report dated August 5, 2022. The filing discloses the entry into a material definitive agreement regarding the waiver of registration rights.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a corporate governance agreement and does not contain financial performance data.
Material Changes
On August 4, 2022, the Company entered into a Waiver of Registration Rights with ATW Opportunities Master Fund, L.P., ATW Master Fund II, L.P., ATW Partners Opportunities Management, LLC, and Chardan Capital Markets LLC. Under this agreement, the investors waived their rights to register an aggregate of 45,052,854 Ordinary Shares. This total comprises 581,818 Ordinary Shares and 44,471,036 Ordinary Shares underlying certain preferred shares and warrants, pursuant to the Amended and Restated Registration Rights Agreement dated July 12, 2022.
Guidance, Outlook, and Risks
The filing does not contain management commentary, financial guidance, outlook, or specific risk factors beyond the standard disclosure that the description of the agreement is qualified by reference to the full text of the Waiver of Registration Rights filed as Exhibit 10.1.
Investor Verification Checklist
- Verify the full terms of the Waiver of Registration Rights in Exhibit 10.1.
- Confirm the impact of the waived registration rights on the liquidity of the 45,052,854 Ordinary Shares.
- Review the Amended and Restated Registration Rights Agreement dated July 12, 2022, to understand the original rights being waived.