secwatch.observer — SEC 8-K summary
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Issuer:     GameSquare Holdings, Inc. (GAME)
CIK:        0001714562
Form:       8-K
Filed at:   2024-07-08T23:59:59+00:00
Accession:  0001493152-24-026522
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 2.04, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GameSquare secures $6.5M pre-paid advance from Yorkville; King Street demands repayment on $5.8M note
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- Entered SEPA with Yorkville for up to $20M common stock sales; $6.5M pre-paid advance funded July 8, 2024.
- King Street alleges default on $5.8M convertible note due to failure to maintain 51% interest in FaZe Media; company disputes.
- Proceeds from Yorkville to repay King Street note ($5.7M) and for working capital; commitment fee of $200K paid in shares.
- Pre-paid advance convertible at lower of $1.375 fixed price or 93% of 7-day VWAP; floor price $0.25; 0% interest (18% default).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1714562/000149315224026522/0001493152-24-026522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1714562/000149315224026522/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-026522

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