secwatch.observer — SEC 8-K summary
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Issuer:     Motorsport Games Inc. (MSGM)
CIK:        0001821175
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0001493152-22-034980
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Motorsport Games signs equity line with Alumni Capital for up to $10M in common stock
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- Initial purchase amount $2M, can increase to $10M at company's option until Dec 31, 2023.
- Purchase price set at 90% of VWAP (Option I) or 96% of lowest daily VWAP after notice (Option II).
- Per notice cap: $500k under Option I, $1M under Option II; aggregate share cap of 373,284 (19.99% of outstanding).
- Company issued $40,000 in commitment shares to Alumni Capital as consideration for the commitment.
- Proceeds expected for product development and general corporate purposes; investor barred from short selling or hedging.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1821175/000149315222034980/0001493152-22-034980-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1821175/000149315222034980/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-034980

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