GridAI Technologies Corp. has increased its outstanding loan to Pronghorn Resources, LLC to an aggregate principal amount of $3,500,000. The Delaware-based company disclosed the expansion on October 1, 2026, through a Current Report on Form 8-K filed with the Securities and Exchange Commission.
The new total reflects a third loan of $536,000 made to Pronghorn, a Delaware limited liability company. This addition follows an initial loan of $2,000,000 and a second loan of $964,000. GridAI previously reported the first two transactions in Current Reports on Form 8-K filed on July 23, 2026, and September 11, 2026.
To formalize the updated terms, the parties entered into a Second Amended and Restated Secured Convertible Note. This document amends and restates the original Secured Convertible Promissory Note to reflect the cumulative principal amount. The original note was previously amended on September 4, 2026, to include the second loan.
Concurrently, GridAI and Pronghorn executed a Second Amendment to Security Agreement effective October 1, 2026. This amendment updates the Security Agreement originally dated July 17, 2026, and previously modified by a First Amendment on September 4, 2026. The primary change revises the definition of "Note" within the security documents to refer specifically to the Second Amended Note.
Jason D. Sawyer, Chief Executive Officer of GridAI Technologies Corp., signed the report on October 7, 2026. The company is incorporated in Delaware and maintains its principal executive offices at 433 Plaza Real, Suite 275 in Boca Raton, Florida. Its common stock trades on The Nasdaq Stock Market LLC under the symbol GRDX.
The filing includes the Second Amended Note and the Second Amended Security Agreement as Exhibits 10.1 and 10.2. GridAI notes that the descriptions of these agreements in the report are qualified by reference to their full text. The company has not indicated whether further loans or amendments are planned beyond the current aggregate principal amount.