Signing Day Sports, Inc.: debt financing — Signing Day Sports enters $412,500 secured convertible note, terminates prior $25M equity line

Signing Day Sports, Inc.

Entered $412,500 senior secured convertible note with FirstFire Global; purchase price $375,000.
Note matures May 16, 2025, 10% interest, monthly amortization $56,715 starting Sep 16, 2024.
Conversion price $0.30/share, full-ratchet anti-dilution; warrants for up to 1.625M shares.
Must seek stockholder approval to issue >19.99% of outstanding shares (3.07M shares).
Terminated $25M equity line with Tumim Stone Capital effective May 16, 2024.

item 1.01 item 1.02 item 2.03 item 3.02 item 7.01 item 9.01

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

Signing Day Sports, Inc. incurred convertible notes of $412,500 with FirstFire Global Opportunities Fund, LLC.

Instrument: convertible notes
Principal: $412,500
Counterparty: FirstFire Global Opportunities Fund, LLC
Event: incurrence

Exact text from the filing

On May 16, 2024, Signing Day Sports, Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement, dated as of May 16, 2024 (the “FirstFire Purchase Agreement”), with FirstFire Global Opportunities Fund, LLC (the “Investor”) pursuant to which the Company is required to issue the Investor a senior secured convertible promissory note with principal of $412,500

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

Signing Day Sports, Inc. entered into FirstFire Purchase Agreement with FirstFire Global Opportunities Fund, LLC valued at $412,500 (effective 2024-05-16).

Action: entry
Agreement: equity purchase
Counterparty: FirstFire Global Opportunities Fund, LLC
Value: $412,500
Effective: 2024-05-16

Exact text from the filing

On May 16, 2024, Signing Day Sports, Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement, dated as of May 16, 2024 (the “FirstFire Purchase Agreement”), with FirstFire Global Opportunities Fund, LLC (the “Investor”) pursuant to which the Company is required to issue the Investor a senior secured convertible promissory note with principal of $412,500

View on SEC.gov

310 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001213900-24-044523

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