Loan & DebtJun 3, 2026, 05:17 PM
Sports Entertainment Gaming Global Issues $3.5M Convertible Note
AI Summary
Sports Entertainment Gaming Global Corp entered into a Securities Purchase Agreement with Amorua Global, Inc. to issue an unsecured convertible promissory note for $3.5 million. The note bears 12% interest, matures in 24 months, and was issued with a 15% original issue discount. Proceeds will be used for general corporate purposes, including repaying $500,000 of existing indebtedness.
Key Highlights
- Issued $3,500,000 unsecured convertible promissory note to Amorua Global, Inc.
- Note bears interest at 12% per annum and matures in 24 months.
- Issued with an original issue discount of 15%.
- Convertible into common stock at a variable price, subject to a 9.99% beneficial ownership limit.
- Company to file Form S-1 within 45 days for resale of conversion shares.
- Net proceeds to be used for general corporate purposes, including $500,000 debt repayment.
Price Impact
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