secwatch.observer — SEC 8-K summary
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Issuer:     FingerMotion, Inc. (FNGR)
CIK:        0001602409
Form:       8-K
Filed at:   2026-08-17T13:15:35+00:00
Accession:  0001493152-26-038662
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FingerMotion issues $5M convertible note, buys 9.9% Lyken stake, names new CFO
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- $5M senior secured convertible note with $700K OID; net proceeds $4.3M, $1.3M available now, $3.3M held in DACA.
- Convertible at $0.35/share; monthly conversions at 90% of lowest 7-day VWAP, floor at 20% of Nasdaq min price; warrant for 4,092,993 shares.
- Acquired 9.9% of Lyken AI from Alset AI for 1,674,480 FNGR shares (~$500K); closed Aug 14 after TSXV approval.
- Chris Polimeni appointed CFO effective Aug 17, 2026, succeeding Lee Yew Hon; CEO and CFO each paid $30K/month pending comp committee.
- Note carries 125% acceleration on default, 12% default interest; exchange cap 12,256,260 shares unless stockholder approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1602409/000149315226038662/0001493152-26-038662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1602409/000149315226038662/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-038662

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