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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):
October 14, 2025 (October 10, 2025)
__________________________
Empery
Digital Inc.
(Exact Name of Registrant as Specified in its Charter)
__________________________
| Delaware |
001-40867 |
84-4882689 |
(State or Other Jurisdiction
of Incorporation) |
(Commission
File Number) |
(I.R.S. Employer
Identification Number) |
3121
Eagles Nest Street, Suite 120
Round Rock, TX 78665
(Address of principal executive offices and zip
code)
(512) 400-4271
(Registrant’s telephone number, including
area code)
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 (see General
Instruction A.2. below):
|
☐
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-14(c)). |
Securities registered pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, par value $0.00001 per share |
|
EMPD |
|
NASDAQ |
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 1.01 Entry Into a Material Definitive Agreement.
Master Loan Agreement
On October
12, 2025, Empery Digital Inc. (the “Company”) entered into a Master Loan Agreement (the “MLA”) with
Two Prime Lending Limited (the “Lender”) to obtain additional capital in the form of delayed draw term loans,
the proceeds of which shall be applied towards share repurchases by the Company. Under the MLA,
the Company may borrow, in one or more draws, an aggregate principal amount of up
to $100 million, through October 9, 2026, at which date, all such loans, together with any accrued and unpaid interest and related
obligations, shall become due and payable in their entirety. Notwithstanding the foregoing, the Company
has the option, in its sole discretion, to extend the due date of all such loans for
one additional year, to October 9, 2027. Further, the MLA was not subject to any commitment fees
and borrowings can be repaid early without any prepayment penalty or premium. The interest rate applicable to all outstanding loans will
be 6.50% per annum. The Company must initially provide the Lender with Bitcoin (BTC) equal to 250% of any amount borrowed as collateral,
which is subject to additional margin calls or return of collateral based on the change in BTC’s price over the term of the outstanding
loans.
The foregoing
description of the MLA is not complete and is qualified in its entirety by reference to the full text of the MLA, which is filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation
Under an Off Balance Sheet Arrangement of a Registrant.
The information set forth above under Item 1.01 is hereby incorporated
by reference into this Item 2.03.
Item 7.01 Regulation FD Disclosure.
On October 13, 2025, the Company issued a press
release announcing its execution of the MLA with Two Prime Lending, Board approval for the increase to the Share Repurchase Program (as
define below) and providing an update on repurchases by the Company under the Company’s Share Repurchase Program.
The press release is attached as Exhibit 99.1
to this Current Report on Form 8-K and incorporated herein by reference.
Item 8.01 Other Information.
On October 11, 2025, the Board of Directors of the Company (the “Board”)
authorized an increase of $50 million to the Company’s existing share repurchase program (the “Share Repurchase Program”),
pursuant to which the Company is now authorized to repurchase up to an aggregate of $150 million of shares of the Company’s outstanding
common stock, par value $0.00001 (“Common Stock”). The authorization is effective through July 24, 2027, subject to
extension or earlier termination by the Board of Directors at any time. The shares of Common Stock may be repurchased from time to time
in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal
securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion
and will depend on a number of factors, including the market price of the Common Stock, general market and economic conditions and applicable
legal requirements. As of October 10, 2025, an aggregate of 6,740,482 shares of the Company’s Common Stock have been repurchased
by the Company under the Share Repurchase Program at an average purchase price per share of $7.61. Following these repurchases and the
increase to the Share Repurchase Program, approximately $99 million remains available for future repurchases under the Company’s
Share Repurchase Program.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
|
Description |
| 10.1* |
|
Master Loan Agreement, dated October 12, 2025, between the Company and Two Prime Lending Limited |
| 99.1 |
|
Press Release, dated October 13, 2025 |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| |
|
|
* Certain schedules, exhibits and similar attachments have been omitted
pursuant to Item 601(a)(5) of Regulation S-K and portions of this exhibit have been redacted pursuant to Item 601(b)(2) of Regulation
S-K. The Company will provide a copy of such omitted materials to the Securities and Exchange Commission or its staff upon request.
SIGNATURES
Pursuant to the requirements of
the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
Empery Digital Inc. |
| |
(Registrant) |
| |
|
| Date: October 14, 2025 |
/s/ Greg Endo |
| |
Greg Endo
Chief Financial Officer |
