Exyn Technologies, Inc. 8-K

What Happened

• Exyn Technologies, Inc. announced on Form 8-K (Item 2.03) that on May 18, 2026 it entered into a Confidential Side Letter with Evergreen Capital Management, LLC. Under the Side Letter, Evergreen agreed to forbear from declaring an event of default under the Second Amendment to their Note and Warrant Purchase Agreement in exchange for structured repayment and equity consideration.
• The Side Letter sets an Installment Amount of $1,417,164.99 (the outstanding balance plus applicable default penalty after certain mandatory note conversions) to be paid in three equal monthly installments of $472,388.33. The first installment became due June 17, 2026; the next installments are due July 17, 2026 and August 16, 2026. The Company also agreed to issue 100,000 shares of common stock to Evergreen within seven business days following the Trigger Date to obtain a 30‑day period to file a resale registration statement.

Key Details

• Parties: Exyn Technologies, Inc. and Evergreen Capital Management, LLC (Side Letter dated May 18, 2026).
• Total obligation: $1,417,164.99, payable in three equal installments of $472,388.33 (due 6/17/2026, 7/17/2026, 8/16/2026).
• Equity consideration: 100,000 shares of common stock issued as an “Equity Kicker” within seven business days after the Trigger Date.
• Forbearance terms: Evergreen agreed not to declare a default in exchange for these payments and the equity; the Side Letter states no additional liquidated damages, default interest, penalty interest or similar damages shall be assessed in connection with repayment of the Installment Amount.
• The Side Letter is filed as Exhibit 10.1 to the 8-K (certain confidential information redacted).

Why It Matters

• This agreement creates a near‑term cash obligation (three monthly installments) and a small equity dilution (100,000 shares) that investors should note when assessing Exyn’s short‑term liquidity and capital structure.
• The forbearance avoids an immediate default event under the amended financing documents, which could have had more severe consequences; instead the company has a defined pathway to resolve the obligation within roughly three months.
• Investors should watch for the company’s upcoming filings (including any resale registration statement) and future disclosures about whether installments are paid as scheduled, as these affect liquidity and potential dilution.