Braiin Limited Related-Party Transactions Disclosure
Braiin Limited filed this Form 6-K to disclose multiple related-party transactions involving entities controlled by the Saligrama Family Trust, which is associated with company President and COO Viswanatha Chetan Saligrama. The filing details three key transactions: 1) A restructuring of Connect Simple Pty Ltd where Mr. Saligrama and his family trust vehicle Advaitha acquired 97.96% ownership through share transfers, resulting in Braiin issuing approximately 9.6 million shares to these related parties as consideration; 2) A $12 million Note Purchase Agreement with Advaitha providing secured debt financing to fund acquisitions and refinance property debt; and 3) A Deed of Variation that modified the note terms, removed early repayment penalties, and adjusted trigger thresholds. All transactions were approved by Braiin's Board of Directors with Mr. Saligrama recused from deliberations and voting.