secwatch.observer — SEC 8-K summary
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Issuer:     NightFood Holdings, Inc. (NGTF)
CIK:        0001593001
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001213900-23-047494
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nightfood issues $200K convertible note to Mast Hill; CEO pledges shares
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- Issued $200K promissory note (net $170K after $30K OID) to Mast Hill Fund, maturing in 12 months.
- Note convertible at $0.10/share; Mast Hill limited to 4.99% beneficial ownership cap.
- CEO Sean Folkson pledged all his common stock and equivalents as collateral via Pledge Agreement.
- Company issued 298,875 warrants at $0.05688 to J.H. Darbie & Co. as placement agent fees.
- Proceeds used for debt service; note restricts additional debt, dividends, and asset sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1593001/000121390023047494/0001213900-23-047494-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1593001/000121390023047494/ea180023-8k_nightfood.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-047494

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer