VIP Play, Inc. (VIPZ): debt financing — VIP Play borrows additional $1.009M under convertible note with CEO-related entity, total $13.631M

VIP Play, Inc.

As of May 15, 2025, aggregate outstanding principal under convertible note with Excel Family Partners is $13,631,000.
From April 17 to May 13, 2025, the company borrowed an additional $1,009,000 in four separate draws.
Note carries 12% fixed interest, due on demand, convertible at 80% of lowest recent price (floor $0.50 per share).
Excel Family Partners is controlled by CEO Bruce Cassidy; the note is non-committed and non-reborrowable.
Total borrowings increased from $12,097,000 (as of March 31) to $13,631,000.

item 2.03 item 9.01

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

VIP Play, Inc. incurred convertible notes of $1,009,000 with Excel Family Partners, LLLP at 12.0% maturing upon demand.

Instrument: convertible notes
Principal: $1,009,000
Counterparty: Excel Family Partners, LLLP
Rate: 12.0%
Maturity: upon demand
Event: incurrence

Exact text from the filing

We borrowed an additional aggregate amount of $1,009,000 in four separate draws under the Note from April 17, 2025 through May 13, 2025.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VIP Play, Inc. incurred convertible notes of $13,631,000 with Excel Family Partners, LLLP at 12.0% maturing upon demand.

Instrument: convertible notes
Principal: $13,631,000
Counterparty: Excel Family Partners, LLLP
Rate: 12.0%
Maturity: upon demand
Event: incurrence

Exact text from the filing

As of May 15, 2025, the aggregate outstanding principal balance of all loans under the Note is $13,631,000.

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

VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-010705

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