VIP Play, Inc. (VIPZ): debt financing — VIP Play draws additional $740K from CEO affiliate note; balance rises to $11.68M

VIP Play, Inc.

Borrowings under convertible note with CEO's affiliate Excel reach $11.68M, up from $4.41M at inception.
Interest fixed at 12% p.a.; note matures April 1, 2025; conversion at 80% of lowest recent stock sale price.
Four draws totaling $740,000 occurred between March 7-14, 2025.
The note is uncommitted; Excel may demand payment at any time, with optional conversion to common stock.

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 convertible notes of $740,000 with Excel Family Partners, LLLP at 12.0% maturing April 1, 2025.

Instrument: convertible notes
Principal: $740,000
Counterparty: Excel Family Partners, LLLP
Rate: 12.0%
Maturity: April 1, 2025
Event: incurrence

Exact text from the filing

We borrowed an additional aggregate amount of $740,000 in four separate draws under the Note from March 7, 2025 through March 14, 2025.

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VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-010888

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