---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-002908"
form_type: "8-K"
ticker: "MSGM"
cik: "0001821175"
company_name: "Motorsport Games Inc."
filed_at: "2023-01-30T23:59:59+00:00"
generated_at: "2026-06-20T06:45:10.379215+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Motorsport Games converts $1M debt into 338,983 shares; majority owner stake rises to 61.19%

## Summary
- Exchanged $1,000,000 of line-of-credit debt (principal + interest) for 338,983 Class A common shares.
- Pre-exchange Motorsport Network held ~51.51% of Class A stock; post-exchange stake rises to ~61.19%.
- Company will file registration statement for resale of the new shares upon demand within 60 days of closing.
- Motorsport Network also holds all 700,000 Class B shares, keeping its overall voting control.

## SEC filing metadata
- accession: 0001493152-23-002908
- form_type: 8-K
- ticker: MSGM
- cik: 0001821175
- company_name: Motorsport Games Inc.
- filed_at: 2023-01-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1821175/000149315223002908/0001493152-23-002908-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821175/000149315223002908/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-002908
- JSON: https://secwatch.observer/filing/0001493152-23-002908.json
- Plain text: https://secwatch.observer/filing/0001493152-23-002908.txt

## Key facts
- Material Agreements
  Motorsport Games Inc. entered into Exchange Agreement with Motorsport Network, LLC valued at $1,000,000 (effective 2023-01-30).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Motorsport Network, LLC
  - Value: $1,000,000
  - Effective: 2023-01-30
  source text: On January 30, 2023, Motorsport Games Inc. (the “Company”) entered into a debt-for-equity exchange agreement (the “Exchange Agreement”) with Motorsport Network, LLC (“Motorsport Network”) whereby the Company issued 338,983 shares (the “Acquired Shares”) of its Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), to Motorsport Network, which amount represents the aggregate number of shares of Class A Common Stock equal to $1,000,000 (the “Discharged Debt”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821175/000149315223002908/0001493152-23-002908-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.