GEX Management : Securities Purchase Agreement - Form 8-K
February 24, 2023 at 05:41 pm EST
Share
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 24, 2023
GEX MANAGEMENT INC.
(Exact name of registrant as specified in its charter)
Texas
001-38288
56-2428818
(State or other jurisdiction of
incorporation or organization)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
3662 W Camp Wisdom Rd, Dallas, Texas
75237
(Address of principal executive offices)
(Zip Code)
Registrant's Telephone Number, including area code: (877)210-4396
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:
☐
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
GXXM
OTC Pink
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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.
On February 24, 2023, the Board of Directors resolved to file additional disclosures related to a convertible note transaction executed in Q4 2021, in order to satisfy certain covenant requirements related to the note. On November 16, 2021, GEX Management, Inc. (the "Company" or "Registrant"), in the ordinary course of its business and pursuant to its ongoing plan of operations to fund its business by the use of convertible note transactions, entered into a Securities Purchase Agreement ("SPA") with BHP Capital NY, Inc., an institutional investor and the Lead Investor ("BHP") dated November 16, 2021.
Pursuant to the terms of the SPA, the Company issued and sold to BHP an 12% Senior Convertible Note dated November 16, 2021 in the principal amount of $155,000 (the "Note"), due and payable on November 16, 2022.
Item 9.01 Financial Statements and Exhibits
Exhibit No.
Description
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURE
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 thereunto duly authorized.
GEX Consulting Inc. published this content on 24 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2023 22:40:34 UTC.
GEX Management, Inc. is a management consulting and technology business services company. The Company offers a range of business operational services to clients. The Company provides both long and short-term consulting solution services, including enterprise strategy and technology consulting, enterprise project management; and Human Capital Management (HCM) solution capabilities. It provides project management services to help businesses plan, execute, and control their projects. It is also focused on exploring new technologies and tools that can help it provide better and more efficient consulting services to its clients. This includes developing its own artificial intelligence (AI)-powered platform that can be used to enhance its existing consulting offerings and provide clients with additional insights and value. The company uses various channels to reach potential clients, including digital marketing, social media, industry events, referrals, and targeted advertising.
GEX MANAGEMENT, INC. 