NightFood Holdings, Inc. (NGTF): debt financing — Nightfood closes $62k convertible note with Mast Hill Fund at $0.033 conversion

NightFood Holdings, Inc.

Issued promissory note for $62k principal ($52.7k net after $9.3k OID); matures Oct 5, 2024.
Conversion price $0.033/share; holder capped at 4.99% beneficial ownership.
Company may prepay before default; 150% acceleration upon default.
Proceeds for working capital; note restricts dividends, additional debt, and asset sales.
Private placement under Section 4(a)(2) exemption.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NightFood Holdings, Inc. incurred loan of $62,000.00 with Mast Hill Fund, L.P. maturing the 12-month anniversary of the Effective Date.

Instrument: loan
Principal: $62,000.00
Counterparty: Mast Hill Fund, L.P.
Maturity: the 12-month anniversary of the Effective Date
Event: incurrence

Exact text from the filing

On October 6, 2023, Nightfood Holdings, Inc. (the “Company”) consummated the transactions pursuant to a Securities Purchase Agreement (the “Purchase Agreement”) dated as of October 5, 2023 (the “Effective Date”) and issued and sold to Mast Hill Fund, L.P. (“Mast Hill”), a Promissory Note (the “Note”) in the principal amount of $62,000.00

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NightFood Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-003526

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