Dalrada Technology Group: settles IBS claims for $20,000

What happened

• Dalrada Technology Group, Inc. reported it entered into a Settlement Agreement and Mutual Release with IBS Equity Fund III, LLC and IBS Private Credit Fund IV, LLC on Oct 2, 2026.
• Under the Settlement Agreement the company paid a single lump-sum settlement amount of $20,000, and the parties closed the settlement on Oct 2, 2026 upon IBS’s receipt of the Settlement Amount in cleared funds. The company had previously disclosed IBS’s Sept 2026 notices asserting defaults and demanding approximately $1,162,246.

Key details

• Settlement amount: $20,000, paid in a single lump sum on Oct 2, 2026.
• IBS had asserted demands of approximately $1,162,246 in Sept 2026, which the company disputed.
• Effective at closing, the MGA, the MCSPA and all other Financing Documents terminated, the secured promissory note was cancelled as paid in full, the pre-funded warrant was cancelled, and IBS confirmed it holds no equity or purchase rights in the company.
• IBS delivered written confirmation on Oct 5, 2026 of receipt of the Settlement Amount, withdrawal of the IBS notices, termination of financing documents, release of security interests, closure of the related account, and a termination statement was filed with the Wyoming Secretary of State.

Why it may matter

• The filing reports Item 1.02 (termination of a material definitive agreement) and Item 2.04 (triggering events that accelerate or increase a direct financial obligation) relating to the Settlement Agreement that resolved the IBS notices and terminated the Financing Documents. The filing does not show why the insider traded or why the company acted.