secwatch.observer — SEC 8-K summary
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Issuer:     SurgePays, Inc. (SURG)
CIK:        0001392694
Form:       8-K
Filed at:   2026-06-22T21:30:58+00:00
Accession:  0001493152-26-029647
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SurgePays issues $500K convertible note at 14.5% interest; total series funding reaches $2.65M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1392694/000149315226029647/0001493152-26-029647-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1392694/000149315226029647/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-029647

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer