Super League Enterprise raises ~$5.4M via Series AAA Preferred financing and exchanges existing preferred shares

Super League Enterprise, Inc.

Sold 5,377 shares of Series AAA Convertible Preferred at $1,000/share for gross proceeds of ~$5.4M.
Exchanged 4,011 shares of existing Series A and AA Preferred for Series AAA Preferred shares.
Initial conversion price set at $1.674 per common share; adjustable with stock splits and future issuances.
Placement agent receives $537,700 cash fee plus warrants to purchase 465,750 shares at $1.674.
Registration rights agreement filed to register resale of shares underlying the Series AAA Preferred.

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 AAA Certificate of Designation designating 9,400 shares of Series AAA Preferred Stock (effective 2023-11-30).

Change: charter amendment
Effective: 2023-11-30

Exact text from the filing

On November 30, 2023, the Company filed the Series AAA Certificate of Designation, designating 9,400 shares of Series AAA 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 $5,377,000 (effective 2023-11-30).

Action: entry
Agreement: equity purchase
Counterparty: accredited investors
Value: approximately $5,377,000
Effective: 2023-11-30

Exact text from the filing

On November 30, 2023, Super League Enterprise, 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 5,377 shares of newly designated Series AAA Convertible Preferred Stock, par value $0.001 per share (the “ Series AAA Preferred ”), at a purchase price of $1,000 per share, for aggregate gross proceeds to the Company of approximately $5,377,000 (the “ Offering ”).

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Super League Enterprise, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-033781

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