Mobile Global Esports, Inc. (MGAM): debt financing — Mobile Global Esports issues $150K convertible note with 35% discount conversion

Mobile Global Esports, Inc.

Aggregate principal $150,000; $15,000 original issue discount; net proceeds $135,000.
Note bears 6% interest, matures September 15, 2026.
Convertible after 6 months at 65% of lowest trading price in prior 15 trading days.
Prepayment penalties escalate from 110% to 140% over 180 days from issuance.
Funds used for general working capital; high dilution potential for existing shareholders.

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 aggregate principal amount of $150,000 at 6% per annum maturing September 15, 2026.

Instrument: convertible notes
Principal: aggregate principal amount of $150,000
Rate: 6% per annum
Maturity: September 15, 2026
Event: incurrence

Exact text from the filing

On September 16, 2025, Mobile Global Esports, Inc. (the “Company”) issued a convertible promissory note in the aggregate principal amount of $150,000

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

Mobile Global Esports, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-089740

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