Loan & DebtApr 22, 2026, 06:06 AM
FreeCast Renews $5M Convertible Promissory Note
AI Summary
FreeCast, Inc. renewed a Revolving Convertible Promissory Note with Nextelligence, Inc. for a principal amount not to exceed $5 million. Nextelligence is controlled by FreeCast's CEO and Chairman, William A. Mobley, Jr. The new note, dated April 20, 2026, supersedes a previous note from November 21, 2025, extending its maturity and modifying conversion terms. The outstanding balance from the former note was $5,114,052, and the debt is convertible into Class A common stock at the closing market price.
Key Highlights
- FreeCast renewed a Revolving Convertible Promissory Note for up to $5 million.
- The note is with Nextelligence, controlled by CEO William A. Mobley, Jr.
- It extends maturity and modifies conversion terms of a prior note.
- Outstanding balance from the former note was $5,114,052.
- Debt is convertible into Class A common stock at market price.
Price Impact
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