MOBIVITY HOLDINGS CORP. (MFON): debt financing — Mobivity enters $6M credit facility from director; $4.47M convertible note issued

MOBIVITY HOLDINGS CORP.

Entered amended credit facility with director Thomas B. Akin, allowing up to $6M in advances.
Issued $4,466,043 convertible note at 15% interest; conversion at 85% of 30-day VWAP.
Paid $151,398 outstanding interest in kind with 140,185 shares at $1.08 per share.
Principal and interest payable in 24 monthly installments starting Jan 31, 2023.
Automatic conversion upon listing on national exchange five days prior.

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

MOBIVITY HOLDINGS CORP. amended credit facility of up to $6.0 million in advances with Thomas B. Akin at Not provided maturing Not provided.

Instrument: credit facility
Principal: up to $6.0 million in advances
Counterparty: Thomas B. Akin
Rate: Not provided
Maturity: Not provided
Event: amendment

Exact text from the filing

The A&R Credit Agreement amends and restates the Credit Facility Agreement, dated as of June 30, 2021, between the Company and Mr. Akin, and allows for the Company to borrow up to $6.0 million in advances.

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

MOBIVITY HOLDINGS CORP. filing history →

Source: SEC EDGAR

accession 0001437749-22-027675

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