Super League enters binding term sheet for Infinite Reality to acquire 84.9% stake via asset transfer and share exchange

Super League Enterprise, Inc.

Infinite Reality to acquire 9.9% via 2.5M shares exchanged for 139,592 iR shares, then 75% via convertible preferred stock.
SLE to receive up to $20M cash and a $30M credit facility from iR; assets include DRL license, Thunder Studios, TalentX, Fearless Media.
Clark Callander appointed to SLE board; Infinite Reality to designate a second board seat upon majority stake closing.
Transaction requires shareholder approval; iR will own 84.9% of SLE's outstanding common stock post-closing.
SLE to gain perpetual royalty-free license for Drone Racing League events and sponsorships.

item 1.01 item 3.02 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Clark Callander

Director

SLE · Super League Enterprise, Inc.

Effective: 2024-09-30
Filed: October 4, 2024, 7:59 PM ET

On September 30, 2024, the Company appointed Clark Callander to the Company’s Board, to serve until the Company’s next annual meeting of stockholders or until his successor is duly elected and qualified.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Clark Callander was appointed as Director at Super League Enterprise, Inc..

Action: appointed
Role: Director

Exact text from the filing

On September 30, 2024, the Company appointed Clark Callander to the Company’s Board, to serve until the Company’s next annual meeting of stockholders or until his successor is duly elected and qualified.

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Super League Enterprise, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-030665

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