8-K
filed May 4, 2026, 7:59 PM ET
ticker MGAM
CIK 0001886362
debt
confidence high
sentiment neutral
materiality 0.50
Mobile Global Esports, Inc. (MGAM): debt financing — Mobile Global Esports issues $130K convertible note; conversion at 65% of market price
Mobile Global Esports, Inc.
- Principal $130,000; net proceeds $117,000 after $13,000 original issue discount.
- Note bears 6% interest, matures April 28, 2027.
- Convertible after 6 months at 65% of the lowest trading price in prior 15 days.
- Prepayment penalties escalate from 110% to 140% of principal over 180 days.
- Company will disclose transaction in next 10-Q or 10-K filing.
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 $130,000 at 6% per annum maturing April 28, 2027.
- Instrument
- convertible notes
- Principal
- $130,000
- Rate
- 6% per annum
- Maturity
- April 28, 2027
- Event
- incurrence
Exact text from the filing
On May 1, 2026, Mobile Global Esports, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an investor, pursuant to which the Company issued a convertible promissory note in the aggregate principal amount of $130,000, of which $13,000 is original issue discount (the “Note”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Mobile Global Esports, Inc. entered into Securities Purchase Agreement with an investor valued at $130,000 (effective 2026-05-01).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- an investor
- Value
- $130,000
- Effective
- 2026-05-01
Exact text from the filing
On May 1, 2026, Mobile Global Esports, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an investor, pursuant to which the Company issued a convertible promissory note in the aggregate principal amount of $130,000, of which $13,000 is original issue discount (the “Note”).
View on SEC.gov
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