VIP Play, Inc. (VIPZ): debt financing — KeyStar borrows additional $350,000 under demand note; total $4.46M at 15%

VIP Play, Inc.

Borrowed $350,000 additional under Fifth Amended Note from Excel Family Partners on March 12, 2024.
Total outstanding principal under the note is $4,460,000 as of March 18, 2024.
Interest accrues at 15% fixed per annum, payable in arrears monthly.
Note is payable on demand; company may prepay with accrued interest.
Excel may convert all or part of debt into shares at 80% of lowest recent price (min $0.50/share).

item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VIP Play, Inc. incurred loan of $350,000 with Excel Family Partners, LLLP at 15.0%.

Instrument: loan
Principal: $350,000
Counterparty: Excel Family Partners, LLLP
Rate: 15.0%
Event: incurrence

Exact text from the filing

ine Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (“ Excel ”)

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299 debt financings filed in the last 30 days. Browse all debt financings →

VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-010228

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