NightFood Holdings, Inc. (NGTF): debt financing — Nightfood Holdings issues $160,941 promissory note and warrants to Mast Hill Fund

NightFood Holdings, Inc.

Issued $160,941.18 promissory note to Mast Hill Fund, L.P.; purchase price $136,800 with $24,141.18 OID.
Issued First Warrant for 1,790,000 shares and Second Warrant for 1,820,000 shares, both at $0.10 per share.
Note matures 12 months from March 24, 2023; convertible into common stock at $0.10 per share after six months.
Proceeds to be used for debt service and general corporate purposes.
Note includes prepayment option, events of default with 150% acceleration, and restrictions on additional debt and dividends.

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 $160,941.18 with Mast Hill Fund, L.P. at 16% per annum maturing the 12-month anniversary of the Effective Date.

Instrument: loan
Principal: $160,941.18
Counterparty: Mast Hill Fund, L.P.
Rate: 16% per annum
Maturity: the 12-month anniversary of the Effective Date
Event: incurrence

Exact text from the filing

On March 30, 2023, the Company consummated the transactions pursuant to a Securities Purchase Agreement (the “Purchase Agreement”) effective as of March 24, 2023 (the “Effective Date”) and issued and sold to Mast Hill Fund, L.P. (“Mast Hill”), a Promissory Note (the “MH Note”) in the principal amount of $160,941.18

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NightFood Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-027475

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