secwatch.observer — SEC 8-K summary
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Issuer:     Digerati Technologies, Inc. (DTGI)
CIK:        0001014052
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001213900-23-008998
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digerati Technologies issues $1.68M in convertible debt; up to 18.2M shares issuable
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- Issued two unsecured convertible notes totaling $1.2M gross proceeds; principal $660K each, 10% interest, due May 24, 2023; convertible at $0.10/share, up to 13.2M shares.
- Issued three unsecured promissory notes totaling ~$482K principal (gross $410K after OID); 10% interest, 12-month maturity; convertible at $0.0956/share, up to 5.05M shares.
- Issued 1.32M commitment shares and warrants for 3.03M shares (exercise price $0.1195) in connection with the financings.
- Company intends to repay notes from proceeds of pending merger with MEOA (Minority Equality Opportunities Acquisition Inc.).
- Notes include default triggers for SEC filing delinquencies and conversion restrictions limiting beneficial ownership to 4.99%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014052/000121390023008998/0001213900-23-008998-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014052/000121390023008998/ea172877-8k_digerati.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-008998

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