Signing Day Sports amends Midwestern settlement; restructures $300K balance into installments with 6% interest

Signing Day Sports, Inc.

Total settlement $600,000; first $300,000 paid; remaining $300,000 restructured into installment plan through Aug 31, 2024.
Installments: $200,000 due Apr 12, 2024; then $25,000 monthly with accrued 6% interest due May 31, Jun 30, Jul 31, Aug 31.
If default, Midwestern may file confessed judgment for unpaid amount plus 9% interest and attorney's fees.
Amendment resolves dispute over Work for Hire Agreement; company had alleged Midwestern did not perform.

Key facts

Extracted from this filing and checked against the source text.

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

Signing Day Sports, Inc. amended Amendment No. 1 to Settlement Agreement and Release with Midwestern Interactive, LLC valued at Second Tranche of $300,000 to be paid with interest at 6% per annum: $200,000 by April 12, 2024; $25 (effective 2024-04-11).

Action: amendment
Agreement: settlement
Counterparty: Midwestern Interactive, LLC
Value: Second Tranche of $300,000 to be paid with interest at 6% per annum: $200,000 by April 12, 2024; $25
Effective: 2024-04-11

Exact text from the filing

On April 11, 2024, under an Amendment No. 1 to Settlement Agreement and Release (the “Amendment to Midwestern Release Agreement”), dated as of April 11, 2024, between Signing Day Sports, Inc., a Delaware corporation (the “Company”), and Midwestern Interactive, LLC, a Missouri limited liability company (“Midwestern”), the Company and Midwestern agreed to amend the Settlement Agreement and Release, dated as of December 12, 2023, between the Company and Midwestern (the “Midwestern Release Agreement”).

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Source: SEC EDGAR

accession 0001213900-24-033576

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