secwatch.observer — SEC 8-K summary
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Issuer:     Digerati Technologies, Inc. (DTGI)
CIK:        0001014052
Form:       8-K
Filed at:   2022-12-02T23:59:59+00:00
Accession:  0001213900-22-077314
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digerati Technologies issues $1.67M promissory note to Mast Hill Fund, with conversion and warrant shares
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- Issued unsecured promissory note for ~$1.67M principal (with $250.5K OID) to Mast Hill Fund; net proceeds ~$1.42M.
- Note convertible into common stock at $0.0956/share; also issued warrant to purchase up to 10.5M shares at $0.1195.
- Issued 2.1M commitment shares to investor; conversion restricted to <4.99% beneficial ownership.
- Net proceeds used partly for deposit into MEOA trust to extend SPAC merger deadline, plus working capital.
- Note matures Nov 22, 2023; amortization payments of $200K-$400K quarterly starting Feb 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014052/000121390022077314/0001213900-22-077314-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014052/000121390022077314/ea169572-8k_digeratitech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-077314

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer