VIP Play, Inc. (VIPZ): debt financing — VIP Play reports $24.5M outstanding under convertible note; additional draws of $1.2M since Feb 2026

VIP Play, Inc.

Outstanding principal on convertible note with Excel Family Partners reached $24.5M as of April 20, 2026, up from $12.1M at inception.
Company borrowed an additional $1,214,313 in seven draws between Feb 20 and Apr 17, 2026.
Note bears 12% fixed interest, payable on demand; Excel can convert debt into shares at 80% of lowest recent price (floor $0.50).
Note is uncommitted; Excel controls all advances; prepayment allowed with notice and accrued interest.

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 $1,214,313 with Excel Family Partners, LLLP at 12.0% maturing upon demand.

Instrument: convertible notes
Principal: $1,214,313
Counterparty: Excel Family Partners, LLLP
Rate: 12.0%
Maturity: upon demand
Event: incurrence

Exact text from the filing

We borrowed an additional aggregate amount of $1,214,313 in seven separate draws under the Note from February 20, 2026 through April 17, 2026.

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VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-018053

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