secwatch.observer — SEC 8-K summary
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Issuer:     Super League Enterprise, Inc. (SLE)
CIK:        0001621672
Form:       8-K/A
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0001437749-24-031791
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 5.02, 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Super League to acquire multiple assets from Infinite Reality; Infinite Reality to own 84.9% of SLE after closing
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- Acquires license for Drone Racing League, esports assets, TalentX, Fearless Media, Thunder Studios, and up to $20M cash from Infinite Reality.
- Consideration: preferred stock convertible into 75% of SLE common; plus 2,499,090 SLE shares issued at $1.30/share for 139,592 Infinite Reality shares.
- Infinite Reality will beneficially own 84.9% of SLE common stock after closing.
- SLE gets $30M credit facility from Infinite Reality, to be established in January 2025.
- Clark Callander appointed to board upon consummation of share exchange; initial closing by Oct 25, final after Dec 2024 shareholder meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621672/000143774924031791/0001437749-24-031791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621672/000143774924031791/slgg20241022_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-031791

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