GridAI extends $964K loan to Pronghorn Resources
GridAI Technologies Corp. (GRDX) disclosed that on September 4, 2026 it entered into an Amended and Restated Secured Convertible Promissory Note with Pronghorn Resources, LLC, updating a prior $2,000,000 note to reflect a second, additional loan of $964,000.
Rhea-AI Filing Summary
GridAI Technologies Corp. (GRDX) disclosed that on September 4, 2026 it entered into an Amended and Restated Secured Convertible Promissory Note with Pronghorn Resources, LLC, updating a prior $2,000,000 note to reflect a second, additional loan of $964,000.
The Parties also executed a First Amendment to the Security Agreement, revising the definition of “Note” so that the security package now applies to the Amended and Restated Secured Convertible Promissory Note. Both amended agreements are filed as exhibits and incorporated by reference.
Positive
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8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Original loan principal amount: $2,000,000
Additional loan amount under Amended Note: $964,000
Trading symbol: GRDX
+2 more
5 metrics
Original loan principal amount
$2,000,000
Principal sum of the Secured Convertible Promissory Note made to Pronghorn Resources, LLC
Additional loan amount under Amended Note
$964,000
Second loan made by GridAI Technologies to Pronghorn Resources, LLC reflected in the Amended and Restated Note
Trading symbol
GRDX
Common Stock, par value $0.0001 per share, listed on The Nasdaq Stock Market LLC
Exhibit 10.1
Amended and Restated Secured Convertible Promissory Note
Between GridAI Technologies Corp. and Pronghorn Resources, LLC dated September 4, 2026
Exhibit 10.2
First Amendment to the Security Agreement
Between GridAI Technologies Corp. and Pronghorn Resources, LLC dated September 4, 2026
Key Terms
Secured Convertible Promissory Note, Amended and Restated Secured Convertible Promissory Note, Security Agreement, Emerging growth company
4 terms
Secured Convertible Promissory Note financial
"pursuant to the terms of a Secured Convertible Promissory Note (“Note”)"
Amended and Restated Secured Convertible Promissory Note financial
"entered into that certain Amended and Restated Secured Convertible Promissory Note"
Security Agreement financial
"amended and restated the Security Agreement entered into between the Parties"
A security agreement is a legal contract in which a borrower promises specific assets as collateral to a lender until a debt is repaid. Think of it like leaving your car keys with a mechanic while they fix the car — the lender can take or sell the pledged assets if the borrower defaults. For investors, these agreements reveal which company assets are tied up, who gets paid first in trouble, and how risky other creditors’ claims may be.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What material agreement did GRDX announce on September 4, 2026?
GridAI Technologies announced an Amended and Restated Secured Convertible Promissory Note with Pronghorn Resources, LLC, replacing the original note and reflecting an additional loan advance, together with a corresponding First Amendment to the Security Agreement.
How much has GRDX loaned to Pronghorn Resources under the convertible note structure?
GridAI Technologies initially loaned $2,000,000 to Pronghorn Resources under a Secured Convertible Promissory Note and then made a second loan of an additional $964,000, documented through the Amended and Restated Secured Convertible Promissory Note.
What is the purpose of the First Amendment to the Security Agreement for GRDX?
The First Amendment to the Security Agreement revises the definition of “Note” so that the existing security arrangements now secure obligations under the Amended and Restated Secured Convertible Promissory Note, rather than the original July 17, 2026 note.
Who is GridAI Technologies’ counterparty in the amended note disclosed in the 8-K?
The counterparty is Pronghorn Resources, LLC, a Delaware limited liability company. GridAI Technologies and Pronghorn are collectively referred to as the “Parties” in the Amended and Restated Secured Convertible Promissory Note and related Security Agreement amendment.
Where can investors find the full terms of GRDX’s amended note and security agreement?
The full texts are filed as Exhibit 10.1 (Amended and Restated Secured Convertible Promissory Note) and Exhibit 10.2 (First Amendment to the Security Agreement) to the report and are incorporated by reference.
AI-generated analysis. How Rhea-AI works. Not financial advice.
