NightFood Holdings, Inc. (NGTF): debt financing — Nightfood raises $55,250 via note with OID and warrants; issues 1.97M commitment shares

NightFood Holdings, Inc.

Issued $65,000 principal note to Fourth Man, LLC; purchase price $55,250 plus $9,750 OID.
Issued warrants for 600,000 shares at $0.10/share; exercisable for 5 years.
Issued 1,969,697 commitment shares; 1,477,272 to be cancelled if note repaid within 180 days.
Conversion price of $0.033 per share; subject to 4.99% beneficial ownership cap.
Proceeds used for operating capital; prepayment penalty of 110% of principal plus interest.

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 $65,000.00 with Fourth Man, LLC maturing 12-month anniversary of the Effective Date.

Instrument: convertible notes
Principal: $65,000.00
Counterparty: Fourth Man, LLC
Maturity: 12-month anniversary of the Effective Date
Event: incurrence

Exact text from the filing

On June 30, 2023, Nightfood Holdings, Inc. (the "Company") consummated the transactions pursuant to a Securities Purchase Agreement (the "Purchase Agreement") dated as of June 29, 2023 (the "Effective Date") and issued and sold to Fourth Man, LLC ("Fourth Man"), a Promissory Note (the "Note") in the principal amount of $65,000.00 (actual amount of purchase price of $55,250 plus an original issue discount ("OID") in the amount of $9,750).

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NightFood Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-055514

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