SurgePays raises $7M via senior secured convertible note; conversion at $4.00/share premium

SurgePays, Inc.

Senior secured convertible note of $7M principal, due May 12, 2027; interest 15% per annum.
Fixed conversion price $4.00/share (premium to market); warrants for 700,000 shares at $6.00/share.
Net proceeds ~$5.925M; $0.6M of purchase price satisfied by repurchasing 333,333 shares at $3.00.
Proceeds to fund nationwide launch of LinkUp Mobile and expand MVNE wholesale after AT&T integration.
Management projects >$200M revenue over next 12 months and positive operating cash flow by end of 2025.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.