Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Snail, Inc. incurred convertible notes of $2,200,000 with an accredited investor at 5% maturing twelve (12) months from the date of issuance.
- Instrument
- convertible notes
- Principal
- $2,200,000
- Counterparty
- an accredited investor
- Rate
- 5%
- Maturity
- twelve (12) months from the date of issuance
- Event
- incurrence
Exact text from the filing
the Investor agreed to purchase from the Company in a private placement offering (the “Offering”) an unsecured convertible promissory Note in the aggregate principal amount of $2,200,000 (the “Note”). The Note had a purchase price of $2,000,000 due to the inclusion of a 10% original issuance discount (“OID”). The Company will pay a one-time interest charge on the
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Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Snail, Inc. issued convertible note to an accredited investor for aggregate principal amount of $2,200,000.
- Security
- convertible note
- Purchaser
- an accredited investor
- Consideration
- aggregate principal amount of $2,200,000
Exact text from the filing
On October 24, 2025, Snail, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an accredited investor (the “Investor”). Pursuant to the terms and conditions of the Securities Purchase Agreement, the Investor agreed to purchase from the Company in a private placement offering (the “Offering”) an unsecured convertible promissory Note in the aggregate principal amount of $2,200,000 (the “Note”).
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