Cyber App Solutions Corp. 8-K

What Happened

• Cyber App Solutions Corp. announced on May 29, 2026 (8-K) that it entered into an agreement with Kips Bay Select, LP and Cyber One, LTD to defer a foreclosure auction that had been scheduled for 11:30 a.m. on June 2, 2026.
• The revised auction date is July 7, 2026 unless the parties conclude a settlement of the convertible promissory notes dated November 21, 2023 before then. The company said it is evaluating options and will continue discussions with the investors; no assurance was given about the outcome.

Key Details

• Investors involved: Kips Bay Select, LP and Cyber One, LTD.
• Original foreclosure auction: 11:30 a.m., June 2, 2026; new date: July 7, 2026 if no settlement.
• Relevant instruments: Convertible promissory notes dated November 21, 2023.
• Filing: Form 8-K, Item 8.01 (Other Events), filed May 29, 2026.

Why It Matters

• The deferral postpones an immediate foreclosure risk but does not eliminate it; a settlement of the convertible notes by July 7, 2026 would prevent the auction from proceeding on that date.
• Outcomes of these negotiations could materially affect the company’s capital structure, ownership of assets, or control if a foreclosure ultimately occurs.
• Retail investors should monitor further announcements for any settlement terms, changes to the auction schedule, or other financing or restructuring actions.