FingerMotion, Inc. (FNGR): debt financing — FingerMotion triggers default on $4.8M note, raises $15.55M in private placements; offers 110% payout

FingerMotion, Inc.

Default triggered under $4.8M convertible note with Lind Global after private placement of 2.89M shares at $4.00 for $11.55M gross proceeds.
Mandatory Default Amount is 110% of principal ($5.28M); company offered to pay but investor has not declared it due.
Section 5.7 requires 25% of equity proceeds over $10M to repay note; company awaits investor waiver decision.
Company issued additional 1M shares at $4.00 for $4M gross proceeds in a separate private placement on November 21.
Issued 10,000 warrants to Benchmark at $6.70, expiring Nov 2025; investigating stock price manipulation.

item 2.04 item 3.02 item 7.01

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

FingerMotion, Inc. reported a default on convertible notes of $4,800,000 with Lind Global Fund II LP at interest free.

Instrument: convertible notes
Principal: $4,800,000
Counterparty: Lind Global Fund II LP
Rate: interest free
Event: default

Exact text from the filing

partnership (the “ Investor ”), pursuant to which the Company issued to the Investor a secured, two-year, interest free convertible promissory note in the principal amount of $4,800,000 (the “ Note ”) and a common stock purchase warrant (the “ Warrant ”) to acquire 3,478,261 shares of common stock of the Company (each, a “ Warrant Share ”). A total of $4,000,000

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

FingerMotion, Inc. filing history →

Source: SEC EDGAR

accession 0001520138-22-000532

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