SurgePays, Inc. (SURG): debt financing — SurgePays issues $500K convertible note at 14.5% interest; total series funding reaches $2.65M

SurgePays, Inc.

Sold $500,000 secured convertible note to an accredited investor on June 16, 2026.
Note matures in 24 months; interest at 14.5% per annum; quarterly repayments of $125K begin at 12-month anniversary.
Conversion prices range from $2.00 to $10.00 per share in 20% tranches based on amount due.
This is the latest tranche of a series led by Belleau Wood Capital; aggregate original principal amount now $2.65 million.
Note is secured by a junior security interest in all assets of SurgePays and guaranteed by Torch Wireless.

item 1.01 item 2.03 item 3.02 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

SurgePays, Inc. incurred convertible notes of $500,000 at 14.5% per annum maturing 24 months following the issue date.

Instrument: convertible notes
Principal: $500,000
Rate: 14.5% per annum
Maturity: 24 months following the issue date
Event: incurrence

Exact text from the filing

Effective as of June 16, 2026, SurgePays, Inc. (the “ Company ”) entered into a secured note purchase agreement with an investor (the “ NPA ”), pursuant to which the Company sold, and the investor purchased, a promissory note in the original principal amount of $500,000 (the “ Note ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SurgePays, Inc. entered into NPA valued at $500,000 (effective 2026-06-16).

Action: entry
Agreement: notes offering
Value: $500,000
Effective: 2026-06-16

Exact text from the filing

Effective as of June 16, 2026, SurgePays, Inc. (the “ Company ”) entered into a secured note purchase agreement with an investor (the “ NPA ”), pursuant to which the Company sold, and the investor purchased, a promissory note in the original principal amount of $500,000 (the “ Note ”).

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225 debt financings filed in the last 30 days. Browse all debt financings →

SurgePays, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-029647

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