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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): December 16, 2024

 

GIFTIFY, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-42206   45-2482974
(State of other jurisdiction
of incorporation)		   (Commission
File Number)		   (IRS Employer
Identification No.)

 

1100 Woodfield Road, Suite 510

Schaumburg, IL

   60173
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (773) 272-5000

 

 

(Former name or former address, if changed since last report.)

 

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-4(c))

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock   GIFT   The Nasdaq Stock Market LLC

 

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.

 

On December 16, 2024, the registrant (“Giftify”), entered into a Securities Purchase Agreement and Strata Purchase Agreement with ClearThink Capital Partners, LLC (ClearThink Capital”). Under the terms of the Strata Purchase Agreement, ClearThink Capital has agreed to purchase up to $10 million of Giftify’s shares of common stock (the “Purchase Shares”) based on a series of request notices limited to the lesser of $1,000,000 or 500% of the average number of shares traded for the 10 trading days prior to the closing request date with the minimum purchase notice to be $25,000. Giftify will receive financing in an amount equal to 99% of the average of the closing prices of Giftify’s shares of common stock on the Nasdaq stock market during the Valuation Period that is defined as three business days preceding the purchase date with respect to a request notice. No purchase of Giftify shares of common stock will be made by ClearThink if its beneficial ownership of Giftify common stock exceeds 9.99% of the issued and outstanding shares of Giftify common stock. As a condition of the right of Giftify to commence sales of its Purchase Shares to ClearThink Capital under the Strata Purchase Agreement Giftify must issue to ClearThink Capital under the terms of the Securities Purchase Agreement 100,000 restricted shares of Giftify’s common stock and an effective registration statement covering the resale of the Purchase Shares.

 

Under the terms of the Securities Purchase Agreement, ClearThink Capital has agreed to purchase a total of 150,000 restricted shares of Giftify common stock in at an effective price of $1.3333 per share to be delivered to ClearThink Capital by book entry within seven calendar days following the two closing dates as follows: 75,000 restricted shares of Giftify common stock on December 16, 2024, and 75,000 shares of Giftify common stock within five days after the filing of the Prospectus Supplement underlying the Strata Purchase Agreement.

 

The foregoing description of the Strata Purchase Agreement and the Securities Purchase Agreement is qualified in its entirety by reference to the full text of those agreements, a copy of each of which is filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibits

 

Exhibit No.   Description
10.1   Strata Purchase Agreement, dated December16, 2024 between ClearThink Capital Partners, LLC and Giftify, Inc.
10.2   Securities Purchase Agreement, dated December 16, 2024 between ClearThink Capital Partners, LLC and Giftify, Inc.
104   Cover Page Interactive Data File

 

-2-

 

 

SIGNATURES

 

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.

 

Date: December 20, 2024 GIFTIFY, Inc.
   
  By: /s/ Ketan Thakker
    Ketan Thakker
    President and CEO

 

-3-

 

 

Exhibit 10.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 10.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

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Dec. 16, 2024
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Entity File Number 001-42206
Entity Registrant Name GIFTIFY, INC.
Entity Central Index Key 0001760233
Entity Tax Identification Number 45-2482974
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 1100 Woodfield Road
Entity Address, Address Line Two Suite 510
Entity Address, City or Town Schaumburg
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60173
City Area Code (773)
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Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol GIFT
Security Exchange Name NASDAQ
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Elected Not To Use the Extended Transition Period false
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