MOBIVITY HOLDINGS CORP. (MFON): debt financing — Mobivity raises $2M via convertible notes at 15% interest due 2027

MOBIVITY HOLDINGS CORP.

Issued $2M aggregate principal convertible notes to four accredited investors, including director Thomas Akin ($75K) and 5% owner Bruce Terker ($1.5M).
Notes bear 15% simple interest, mature Dec 30, 2027, and convert into equity at a 90-day VWAP-based price.
Automatic conversion upon qualified financing of at least $4.5M; optional conversion in a corporate transaction.
Proceeds used to scale Connected Rewards program and for general working capital.
Securities issued without registration under Section 4(a)(2) and Rule 506 of Regulation D.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

MOBIVITY HOLDINGS CORP. incurred convertible notes of $2.0 million with four accredited investors, including Thomas B. Akin and Bruce E. Terker at 15% per annum maturing December 30, 2027.

Instrument: convertible notes
Principal: $2.0 million
Counterparty: four accredited investors, including Thomas B. Akin and Bruce E. Terker
Rate: 15% per annum
Maturity: December 30, 2027
Event: incurrence

Exact text from the filing

the Company received $2.0 million in proceeds and issued unsecured convertible promissory notes (each a "Convertible Note" and collectively, the "Convertible Notes") in the aggregate principal amount of $2.0 million

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

MOBIVITY HOLDINGS CORP. filing history →

Source: SEC EDGAR

accession 0001493152-25-010800

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