secwatch.observer — SEC 8-K summary
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Issuer:     Signing Day Sports, Inc. (—)
CIK:        0001898474
Form:       8-K
Filed at:   2024-05-17T23:59:59+00:00
Accession:  0001213900-24-044523
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 1.02, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Signing Day Sports enters $412,500 secured convertible note, terminates prior $25M equity line
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1898474/000121390024044523/0001213900-24-044523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1898474/000121390024044523/ea0206439-8k_signing.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-044523

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