{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-029647","form_type":"8-K","ticker":"SURG","cik":"0001392694","company_name":"SurgePays, Inc.","filed_at":"2026-06-22T21:30:58+00:00","discovered_at":"2026-06-22T21:32:00.350832+00:00","generated_at":"2026-06-22T21:32:27.068980+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"SurgePays issues $500K convertible note at 14.5% interest; total series funding reaches $2.65M","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-029647","json":"https://secwatch.observer/filing/0001493152-26-029647.json","markdown":"https://secwatch.observer/filing/0001493152-26-029647.md","text":"https://secwatch.observer/filing/0001493152-26-029647.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226029647/0001493152-26-029647-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226029647/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T21:32:27.068980+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7043633098d9a64e5e8d3286634cea3c79f7fa3c","claim":"SurgePays, Inc. incurred convertible notes of $500,000 at 14.5% per annum maturing 24 months following the issue date.","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226029647/0001493152-26-029647-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$500,000"},{"label":"Rate","value":"14.5% per annum"},{"label":"Maturity","value":"24 months following the issue date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"68c89cbc487dacf98a98372cb5374877bb4f74ce","claim":"SurgePays, Inc. entered into NPA valued at $500,000 (effective 2026-06-16).","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1392694/000149315226029647/0001493152-26-029647-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Value","value":"$500,000"},{"label":"Effective","value":"2026-06-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}