secwatch.observer — SEC 8-K summary
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Issuer:     Super League Enterprise, Inc. (SLE)
CIK:        0001621672
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001437749-23-012602
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Super League Gaming raises ~$1.025M via Series AA-3 Preferred; executives receive option repricing
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- Sold 1,025 shares of Series AA-3 Convertible Preferred at $1,000/share for ~$1.025M gross proceeds.
- Initial conversion price set at $0.475 per share of common stock; automatic conversion after 24 months or by 51% holder consent.
- CEO Ann Hand, CEO Matthew Edelman, and other executives had underwater options/warrants cancelled and re-granted at $0.49 exercise price.
- Executives received new PSUs vesting upon 60-day VWAP targets of $0.80 to $1.60 per share.
- Employee option cancellation of 584,438 shares replaced with 1,356,000 new options at $0.4905 per share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621672/000143774923012602/0001437749-23-012602-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621672/000143774923012602/slgg20230503_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-012602

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