secwatch.observer — SEC 8-K summary
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Issuer:     Mobile Global Esports, Inc. (MGAM)
CIK:        0001886362
Form:       8-K
Filed at:   2026-05-04T23:59:59+00:00
Accession:  0001213900-26-051633
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mobile Global Esports issues $130K convertible note; conversion at 65% of market price
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886362/000121390026051633/0001213900-26-051633-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886362/000121390026051633/ea0288897-8k_mobile.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-051633

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer