FingerMotion issues $5M convertible note; net proceeds of $3.3M with additional $1M subject to SEC effectiveness

FingerMotion, Inc.

Senior secured convertible note with $5M principal and $700K OID; net $3.3M received at closing; additional $1M upon SEC registration effectiveness.
Initial fixed conversion price $0.94/share; monthly redemption conversion at 90% of lowest 7-day VWAP, subject to floor price at 20% of Nasdaq Minimum Price.
First-priority security interest granted on substantially all personal property assets of the company.
Weild & Co. placement agent commission of $200,000 on initial proceeds.
Conversion restricted by 9.99% beneficial ownership cap and 12,256,260 share exchange cap unless stockholder approval obtained.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FingerMotion, Inc. entered into Securities Purchase Agreement with Institutional Investor valued at $5,000,000 principal (with $700,000 OID); net proceeds $3,300,000 at closing, additional $1,000,000 (effective 2026-05-13).

Action: entry
Agreement: credit facility
Counterparty: Institutional Investor
Value: $5,000,000 principal (with $700,000 OID); net proceeds $3,300,000 at closing, additional $1,000,000
Effective: 2026-05-13

Exact text from the filing

On May 13, 2026 (the “ Closing Date ”), FingerMotion, Inc., a Delaware corporation (the “ Company ”), entered into a securities purchase agreement (the “ Purchase Agreement ”) with an institutional investor (the “ Investor ”), pursuant to which the Company issued to the Investor a senior secured convertible note (the “ Note ”) with an original principal amount of $5,000,000 and an original issue discount of $700,000.

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FingerMotion, Inc. filing history →

Source: SEC EDGAR

accession 0001520138-26-000163

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