Loan & DebtJun 11, 2026, 05:36 PM
FingerMotion to Issue Up to 16.5M Shares from $5M Convertible Note
AI Summary
FingerMotion, Inc. has filed a prospectus relating to the resale of up to 16,531,931 shares of common stock issuable upon conversion of a $5,000,000 senior secured convertible note. The note, issued on May 13, 2026, carries an original issue discount of $700,000, with the company having received $3,300,000 at closing and the remaining $1,000,000 contingent on SEC effectiveness. The company is seeking majority stockholder approval for the full conversion, with interim limits on the selling stockholder's conversion rights.
Key Highlights
- FingerMotion to issue up to 16,531,931 shares of common stock upon conversion of a $5,000,000 senior secured convertible note.
- The note was issued on May 13, 2026, with an original issue discount of $700,000.
- Company received $3,300,000 at closing, with $1,000,000 pending SEC effectiveness of the registration statement.
- Selling Stockholder may convert up to 12,256,260 shares before majority stockholder approval is obtained.
- Company's common stock trades on Nasdaq under the symbol FNGR, last reported at $0.6342 on June 10, 2026.
Price Impact
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