---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-025969"
form_type: "8-K"
ticker: "SNAL"
cik: "0001886894"
company_name: "Snail, Inc."
filed_at: "2025-12-03T23:59:59+00:00"
generated_at: "2026-05-16T15:28:22.264721+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Snail, Inc. enters $1.1M convertible promissory note offering with Monroe Street Capital

## Summary
- Issued a $1,100,000 convertible promissory note to Monroe Street Capital Partners at $1,000,000 purchase price (10% OID).
- Note matures 12 months from November 26, 2025; interest at 5% on principal, default interest at 10% per annum.
- Conversion price set at $5.00 per share of Class A common stock, with a variable price for $288,750 of the principal.
- Company received stockholder approval under Nasdaq Listing Rule 5635(d) for issuance exceeding 20% of outstanding common stock.
- Registration rights agreement requires filing of resale registration statement within 90 days and effectiveness within 120 days.

## SEC filing metadata
- accession: 0001493152-25-025969
- form_type: 8-K
- ticker: SNAL
- cik: 0001886894
- company_name: Snail, Inc.
- filed_at: 2025-12-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.03, 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1886894/000149315225025969/0001493152-25-025969-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1886894/000149315225025969/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-025969
- JSON: https://secwatch.observer/filing/0001493152-25-025969.json
- Plain text: https://secwatch.observer/filing/0001493152-25-025969.txt

## Key facts
- Debt Financings
  Snail, Inc. incurred convertible notes of $1,000,000 with an accredited investor at 5% maturing twelve (12) months from the date of issuance.
  - Instrument: convertible notes
  - Principal: $1,000,000
  - Counterparty: an accredited investor
  - Rate: 5%
  - Maturity: twelve (12) months from the date of issuance
  - Event: incurrence
  source text: 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 $1,000,000 (the “Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886894/000149315225025969/0001493152-25-025969-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.