SinglePoint exchanges $95K note for 296,652 shares with Bucktown Capital

SinglePoint Inc.

Entered Exchange Agreement with Bucktown Capital to partition $95K note from $1.58M original note, reducing outstanding to $95K.
Exchanged the partitioned $95K note for 296,652 shares of common stock, no cash consideration.
Shares issued under Section 3(a)(9) exemption; holding period tacks back to July 2021 for Rule 144.
Ownership limitation prevents Bucktown from exceeding 9.99% beneficial ownership of common stock.
Effective Feb 16, 2024; closing by Feb 22, 2024.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SinglePoint Inc. entered into Exchange Agreement with Bucktown Capital, LLC (effective 2024-02-16).

Action: entry
Counterparty: Bucktown Capital, LLC
Effective: 2024-02-16

Exact text from the filing

On February 22, 2024, SinglePoint Inc. (the “Company”) and Bucktown Capital, LLC, a Utah limited liability company (“Lender”), entered into an Exchange Agreement, dated February 16, 2024 (the “Exchange Agreement”), pursuant to which the Company and Lender agreed to (i) partition a new promissory note (the “Partitioned Note”) from that certain promissory note dated July 13, 2021 in the original principal amount of $1,580,000 (the “Original Note”) and then cause the outstanding balance of the Original Note to be reduced to $95,000; and (ii) exchange the Partitioned Note for the delivery of the 296,652 shares of Borrower’s Common Stock, par value $0.0001 (the “Exchange Shares”).

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Source: SEC EDGAR

accession 0001477932-24-000916

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