debt
confidence high
sentiment neutral
materiality 0.60
GameSquare enters $20M equity-line and $6.5M convertible note with Yorkville to repay $5.7M King Street note
GameSquare Holdings, Inc.
- Company entered SEPA with Yorkville for up to $20M of common stock; initial $6.5M convertible note purchased at 93% of face, 0% interest.
- Fixed conversion price $1.375; variable conversion at 93% of lowest VWAP over 7 days, capped at 15% of monthly volume or $750k.
- Intends to repay $5.7M outstanding principal on senior secured convertible note with King Street Partners LLC.
- Yorkville contractually agreed not to short the stock while the PPA is outstanding.
- Filing amends a typo to correct purchase price to 93.0% of principal amount of Pre-Paid Advance.