secwatch.observer — SEC 8-K summary
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Issuer:     Super League Enterprise, Inc. (SLE)
CIK:        0001621672
Form:       8-K
Filed at:   2025-07-11T23:59:59+00:00
Accession:  0001437749-25-022594
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Super League Enterprise exchanges $1.88M promissory note for preferred stock and cash
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- Principal and accrued interest of $1,878,082 on 40% promissory note exchanged for 1.5M Series AAAA Jr. Convertible Preferred shares and $378,002 in cash.
- Cash payments of ~$63,000/month from Oct 15, 2025 to Mar 15, 2026; preferred convertible into common with volume restrictions.
- Volume trading restrictions: first 60 days max 2.5% daily vol, days 61-120 max 3%, days 121-365 max 3.5%, after 1 yr unrestricted.
- SLE to pay legal costs for Rule 144 opinions and SEC filings to facilitate conversions and sales of common shares.
- Replaces amended note (maturing Nov 2026, $175k/month payments); avoids further 40% interest accrual.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1621672/000143774925022594/0001437749-25-022594-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1621672/000143774925022594/slgg20250711_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-022594

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