Digerati Technologies, Inc. (DTGI): debt financing — Digerati enters $302k convertible notes, increases Post Road facility to $3.5M

to convert all or any portion of the amount the Company owes pursuant to the April Note into shares of the Common Stock. The aggregate principal amount of the April Note was $192,000 with an original issue discount of $28,800. The gross proceeds the Company received prior to payment of transaction expenses was $159,200. The April Note has a maturity date of

On March 7, 2023, the Company and LGH Investments, LLC (“LGH”) entered into a securities purchase agreement (the “LGH SPA”) whereby the Company issued a convertible promissory note to LGH (the “LGH Note”). Although the LGH SPA and other transaction documents are dated March 7, 2023 and funding occurred on such date, the LGH SPA and LGH Note were finalized on March 27, 2023. The aggregate principal amount of the LGH Note was $110,000 with an original issue discount of $10,000. The gross proceeds the Company received prior to payment of transaction expenses was $100,000. The LGH Note has a maturity date of December 7, 2023. The LGH Note can be converted into shares of Common Stock at any time on or following the earlier of (i) May 12, 2023 or (ii) sixty (60) calendar days after the Common Stock is listed on Nasdaq or the New York Stock Exchange.

On April 3, 2023, the Company, the T3 Nevada Parties, and Post Road entered into a Sixth Amendment to Credit Agreement (the “Sixth Amendment”). Pursuant to the Sixth Amendment, Post Road agreed to increase the total Net Unpaid Principal Amount the Company is allowed to borrow in the form of convertible loans to $3,500,000 (such bridge loans are hereinafter referred to individually as a “Bridge Loan” and collectively as the “Bridge Loans”). This amount was increased from the $3,000,000 agreed to in February 2023 pursuant to that certain Consent, Limited Waiver and Fourth Amendment to Credit Agreement and Amendment to Notes. As used herein, the term “Net Unpaid Principal Amount” means the principal dollar amount of a Bridge Loan, less the original issue discount (if any) and less the transaction costs paid in cash by the Company upon the closing thereof. Pursuant to the Sixth Amendment, Post Road agreed to defer the cash interest otherwise due and payable on April 3, 2023 to the May 1, 2

On April 3, 2023, the Company, the T3 Nevada Parties, and Post Road entered into a Sixth Amendment to Credit Agreement (the "Sixth Amendment").

On March 7, 2023, the Company and LGH Investments, LLC ("LGH") entered into a securities purchase agreement (the "LGH SPA") whereby the Company issued a convertible promissory note to LGH (the "LGH Note").

On April 3, 2023, the Company and the Investor entered into a new securities purchase agreement (the "April SPA") whereby the Company issued a new promissory note to the Investor (the "April Note").