secwatch.observer — SEC 8-K summary
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Issuer:     Super League Enterprise, Inc. (SLE)
CIK:        0001621672
Form:       8-K
Filed at:   2024-07-02T23:59:59+00:00
Accession:  0001437749-24-022016
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Super League Enterprise raises $1.21M via convertible preferred stock with $1.25 conversion price
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- Raised $1.21M in gross proceeds from sale of 1,210 shares of Series AAA convertible preferred stock at $1,000/share.
- Initial conversion price set at $1.25 per common share, subject to future adjustments for equity issuances.
- Dividends: holders receive shares equal to 20% of underlying common at 30/60/90 day anniversaries; also participates in common dividends.
- Additional investment right for 18 months: purchasers can buy more shares at $1,000 with $1.25 conversion, subject to stockholder approval.
- Placement agent received $121K cash fee, $24.2K expense allowance, and warrants for 140,360 shares at $1.25.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621672/000143774924022016/0001437749-24-022016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621672/000143774924022016/slgg20240701_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-022016

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