Mobile Global Esports, Inc. (MGAM): debt financing — Mobile Global Esports enters $75K convertible note and $10M equity line with ClearThink Capital

Mobile Global Esports, Inc.

Promissory note for $75,000 principal ($65,000 net proceeds), 10% interest, matures Dec 1, 2026.
Note convertible at $0.06/share; adjustable if stock trades below that threshold.
Equity line of credit (ELOC) up to $10,000,000 contingent on SEC registration of resale shares.
Issued 500,000 commitment shares as part of ELOC agreement.
Funds used for working capital; placement exempt under Section 4(a)(2).

item 1.01 item 2.03 item 3.02 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

Mobile Global Esports, Inc. incurred loan of $75,000 with an accredited investor at 10% maturing December 1, 2026.

Instrument: loan
Principal: $75,000
Counterparty: an accredited investor
Rate: 10%
Maturity: December 1, 2026
Event: incurrence

Exact text from the filing

unsecured original issue discount promissory note in the principal amount of $75,000

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Mobile Global Esports, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-117231

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