secwatch.observer — SEC 8-K summary
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Issuer:     MOBIVITY HOLDINGS CORP. (MFON)
CIK:        0001447380
Form:       8-K
Filed at:   2025-03-18T23:59:59+00:00
Accession:  0001493152-25-010800
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mobivity raises $2M via convertible notes at 15% interest due 2027
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1447380/000149315225010800/0001493152-25-010800-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1447380/000149315225010800/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-010800

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