secwatch.observer — SEC 8-K summary
======================================

Issuer:     SIMPLICITY ESPORTS & GAMING Co (—)
CIK:        0001708410
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0001493152-23-012910
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simplicity Esports issues two $16,500 convertible notes to Ionic Ventures and FirstFire Global Opportunities
--------------------------------------------------------------------------------

- Each note has $16,500 principal, $1,500 OID, net proceeds $15,000, 12% interest, matures July 8, 2023.
- Conversion price $0.0175 per share; beneficial ownership limit 4.99% (waivable to 9.99% on 61 days' notice).
- Proceeds for working capital; prepayment allowed with $660 interest guaranteed.
- Both SPAs contain inadvertent warrant references; company will amend to remove them.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-012910

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