---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-032839"
form_type: "8-K"
ticker: "CAST"
cik: "0001633369"
company_name: "FreeCast, Inc."
filed_at: "2026-03-23T23:59:59+00:00"
generated_at: "2026-05-15T09:22:15.716785+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FreeCast draws additional $265K under related party convertible note; total $4.69M outstanding

## Summary
- Revolving convertible note with Nextelligence (controlled by CEO William Mobley) has $5M principal cap; entered Nov 21, 2025.
- Three separate draws of $265K total from Mar 11-19, 2026; outstanding principal $4,689,052 as of Mar 23.
- Conversion price $8.00 per share, interest rate 12% p.a., maturity June 30, 2026.
- Note convertible at Nextelligence's option; prepayment allowed with five days written notice.
- Default interest rate increases to 18% p.a. upon breach or bankruptcy events.

## SEC filing metadata
- accession: 0001213900-26-032839
- form_type: 8-K
- ticker: CAST
- cik: 0001633369
- company_name: FreeCast, Inc.
- filed_at: 2026-03-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1633369/000121390026032839/0001213900-26-032839-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1633369/000121390026032839/ea0283030-8k_freecast.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-032839
- JSON: https://secwatch.observer/filing/0001213900-26-032839.json
- Plain text: https://secwatch.observer/filing/0001213900-26-032839.txt

## Source-grounded claims
- claim_id: 2d5c25c4a957480301eeb45adcaf9a496a7fbd2a
  claim: FreeCast, Inc. incurred convertible notes of $265,000 with Nextelligence, Inc. at a fixed rate per annum equal to 12.0% maturing June 30, 2026.
  evidence_excerpt: We borrowed an additional aggregate amount of $265,000 in three separate draws under the Note from March 11, 2026, through March 19, 2026. As of March 23, 2026, the aggregate outstanding principal balance of all loans under the Note is $4,689,052. In lieu of repayment, at Nextelligence’s option, all or part of the outstanding principal and accrued interest (“ Debt ”) is convertible into shares of our Class A common stock (“ Shares ”) at a conversion price of $8.00 per Share. All loans made under the Note accrue interest at a fixed rate per annum equal to 12.0%. The outstanding principal and accrued and unpaid interest under the Note are due and payable no later than June 30, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1633369/000121390026032839/0001213900-26-032839-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.