Digerati Technologies, Inc. (DTGI): debt financing — Digerati Technologies issues $330K in convertible notes to MGR and Lucas Ventures

Digerati Technologies, Inc.

Issued $275,000 convertible note to MGR Limited Partnership; net proceeds $250,000 after $25,000 OID.
Issued $55,000 convertible note to Lucas Ventures; net proceeds $50,000 after $5,000 OID.
Issued 358,000 commitment shares to MGR and 300,000 inducement shares to Lucas.
Conversion price for both notes is $0.10 per share, convertible upon Nasdaq up-list.
MGR note matures Oct 14, 2023; Lucas note matures Feb 9, 2024; both are unregistered.

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

Digerati Technologies, Inc. incurred convertible notes of approximately $275,000 with MGR Limited Partnership maturing earlier of (i) October 14, 2023, or (ii) the thirtieth (30th) day following the Company’s up-list transaction on the Nasdaq Capital Market.

Instrument: convertible notes
Principal: approximately $275,000
Counterparty: MGR Limited Partnership
Maturity: earlier of (i) October 14, 2023, or (ii) the thirtieth (30th) day following the Company’s up-list transaction on the Nasdaq Capital Market
Event: incurrence

Exact text from the filing

a promissory note and shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), to MGR. The aggregate principal amount of the note was approximately $275,000 with an original issue discount of $25,000. The actual amount of the purchase price the Company received was $250,000. The maturity date of the MGR Note is the earlier of (i)

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Digerati Technologies, Inc. incurred convertible notes of $55,000 with Lucas Ventures, LLC maturing February 9, 2024.

Instrument: convertible notes
Principal: $55,000
Counterparty: Lucas Ventures, LLC
Maturity: February 9, 2024
Event: incurrence

Exact text from the filing

a securities purchase agreement (the “LV SPA”) whereby the Company issued a convertible promissory note to LV (the “LV Note”). The aggregate principal amount of the LV Note was $55,000 with an original issue discount of $5,000. The gross proceeds the Company received prior to payment of transaction expenses was $50,000. The LV Note has a maturity date of

View on SEC.gov

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

Digerati Technologies, Inc. entered into LV SPA and LV Note with Lucas Ventures, LLC valued at $55,000 (effective 2023-05-09).

Action: entry
Agreement: notes offering
Counterparty: Lucas Ventures, LLC
Value: $55,000
Effective: 2023-05-09

Exact text from the filing

On May 9, 2023, the Company and Lucas Ventures, LLC (“LV”) entered into a securities purchase agreement (the “LV SPA”) whereby the Company issued a convertible promissory note to LV (the “LV Note”).

View on SEC.gov

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

Digerati Technologies, Inc. entered into MGR Note with MGR Limited Partnership valued at approximately $275,000 (effective 2023-04-14).

Action: entry
Agreement: notes offering
Counterparty: MGR Limited Partnership
Value: approximately $275,000
Effective: 2023-04-14

Exact text from the filing

On April 14, 2023, Digerati Technologies, Inc. (the “Company”) entered into a convertible promissory note (the “MGR Note”) with MGR Limited Partnership (“MGR”).

View on SEC.gov

Browse all debt financings →

Digerati Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-039807

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.