DealsJul 30, 2026, 04:38 PM
Game Your Game Sells $8M Series A Preferred Stock to Streeterville
AI Summary
Game Your Game Inc. completed the second closing of its Preferred Purchase Agreement with Streeterville Capital, LLC, issuing 8,000 shares of Series A convertible preferred stock for $8,000,000. This unregistered sale was made under Section 4(a)(2) and Rule 506(b) of Regulation D. The Series A Preferred Stock is convertible into common stock at an initial price of $8.00, subject to adjustments, and carries a 10% annual preferred return. The company is obligated to register the resale of the common stock issuable upon conversion, with penalties for delays.
Key Highlights
- Issued 8,000 shares of Series A Preferred Stock to Streeterville Capital for $8,000,000.
- Series A Preferred Stock has a stated value of $1,111.11 per share.
- Initial conversion price is $8.00 per share, with a floor price of $4.00.
- Series A Preferred Stock accrues a 10% annual preferred return, payable quarterly.
- Streeterville Capital committed to purchase up to $40,000,000 in Series A Preferred Stock.
- Conversions are subject to a 9.99% beneficial ownership limitation.
- Company faces a 1% penalty if resale registration is not effective within 60 days of Direct Listing.
Price Impact