Mobile Global Esports, Inc. (MGAM): debt financing — Mobile Global Esports issues $283K convertible notes at 10%, 65% discount conversion

Mobile Global Esports, Inc.

Aggregate principal of $283,000; interest rate 10% per annum; maturity May 30, 2026.
Conversion beginning 6 months after issuance at 65% of Market Price (avg of 3 lowest trading prices in prior 15 days).
Company may prepay at 120% within 90 days, then 125% up to 180 days after issuance.
Notes issued to an investor; proceeds not specified; trading symbol MGAM on OTC Pink Sheets.

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

Mobile Global Esports, Inc. incurred convertible notes of $283,000 with an investor at 10% per annum maturing May 30, 2026.

Instrument: convertible notes
Principal: $283,000
Counterparty: an investor
Rate: 10% per annum
Maturity: May 30, 2026
Event: incurrence

Exact text from the filing

issued convertible promissory notes in the aggregate principal amount of $283,000 (the “Note”) to an investor (the “Investor”). The Notes bear interest at 10% per annum and have a maturity date of May 30, 2026.

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Mobile Global Esports, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-074358

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