SLGG acquires game developer MELON for $900K+earnout; raises $1.026M via preferred stock

Super League Enterprise, Inc.

Acquired substantially all assets of Melon, Inc. for $900K ($150K debt forgiveness + $750K stock) plus up to $2.35M earnout based on 2023-2024 revenue milestones.
Issued 1,026 shares of Series AA-4 Convertible Preferred at $1,000/share for $1.026M gross proceeds; initial conversion price $0.4642.
Melon brings capabilities across Roblox, Minecraft; worked with brands including NFL, Chipotle, Mattel, Clarks.
Granted 2,075,550 RSUs to new employees Neuman and Thome with time-based and performance/stock price vesting conditions.
Placement agent received $102,600 cash fee, $30,780 expense allowance, and warrants for ~2.25M shares at $0.4642 exercise price.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Super League Enterprise, Inc.: Filed Series AA-4 Certificate of Designation designating 1,026 shares of Series AA-4 Preferred Stock on May 5, 2023 (effective 2023-05-05).

Change: charter amendment
Effective: 2023-05-05

Exact text from the filing

On May 5, 2023, the Company filed the Series AA-4 Certificate of Designation, designating 1,026 shares of Series AA-4 Preferred in connection with the Offering.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Super League Enterprise, Inc. entered into Subscription Agreement with accredited investors valued at approximately $1,026,000 (effective 2023-05-05).

Action: entry
Agreement: equity purchase
Counterparty: accredited investors
Value: approximately $1,026,000
Effective: 2023-05-05

Exact text from the filing

On May 5, 2023, Super League Gaming, Inc. (the “ Company ”) entered into subscription agreements (each, a “ Subscription Agreement ” and collectively, the “ Subscription Agreements ”) with accredited investors with respect to the sale of an aggregate of 1,026 shares of newly designated Series AA-4 Convertible Preferred Stock, par value $0.001 per share (the “ Series AA Preferred ”), at a purchase price of $1,000 per share, for aggregate gross proceeds to the Company of approximately $1,026,000

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42 governance changes filed in the last 30 days. Browse all governance changes →

Super League Enterprise, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-013145

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