NightFood Holdings, Inc. (NGTF): debt financing — Nightfood Holdings issues $160,941 convertible note and reduces warrant exercise price to $0.05

NightFood Holdings, Inc.

Warrant amendment reduces exercise price to $0.05; warrantholders exercise 2,750,000 shares for $137,500.
Promissory note to Mast Hill Fund: $160,941 principal, $24,141 OID, 12-month maturity, convertible at $0.10.
Mast Hill also receives 1,790,000 First Warrants and 1,820,000 Second Warrants at $0.10 exercise price.
Proceeds used for debt service and general corporate purposes; note includes prepayment and conversion rights.
Placement agent fees: Spencer Clarke $13,750 cash plus warrants; J.H. Darbie $6,840 cash plus warrants.

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 convertible notes of $160,941.18 with Mast Hill Fund, L.P. maturing the 12-month anniversary of the Effective Date.

Instrument: convertible notes
Principal: $160,941.18
Counterparty: Mast Hill Fund, L.P.
Maturity: the 12-month anniversary of the Effective Date
Event: incurrence

Exact text from the filing

On the Effective Date, the Company consummated the transactions pursuant to a Securities Purchase Agreement (the “Purchase Agreement”) 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 (actual amount of purchase price of $136,800 plus an original issue discount (“OID”) in the amount of $24,141.18).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NightFood Holdings, Inc. amended Warrant Amendment and Exercise Agreements with certain existing warrantholders (effective 2023-04-17).

Action: amendment
Counterparty: certain existing warrantholders
Effective: 2023-04-17

Exact text from the filing

Effective as of April 17, 2023 (the “Effective Date”), Nightfood Holdings, Inc. (the “Company”) entered into Warrant Amendment and Exercise Agreements (the “Amendment Agreements”) with certain existing warrantholders of the Company (each, a “Warrantholder” and collectively, the “Warrantholders”).

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NightFood Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-031690

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