secwatch.observer — SEC 8-K summary
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Issuer:     Super League Enterprise, Inc. (SLE)
CIK:        0001621672
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001437749-23-011028
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Super League Gaming raises ~$9.18M via sale of Series AA convertible preferred stock
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- Sold 7,680 Series AA and 1,500 Series AA-2 Preferred shares at $1,000 each, raising ~$9.18M gross.
- Conversion price initially $0.4715 (Series AA) and $0.5215 (Series AA-2), subject to adjustments.
- Preferred shares vote with common on as-converted basis; class vote required for adverse changes, senior debt, or senior/pari passu issuances.
- Dividends: 20% of underlying shares on 12- and 24-month anniversaries, plus regular dividends on as-converted basis.
- Placement agent received $828K cash fee, $267.9K expense allowance, and warrants for ~2.6M shares at $0.4715/$0.5215.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621672/000143774923011028/0001437749-23-011028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621672/000143774923011028/slgg20230425_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-011028

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