Super League Gaming raises $1.93M via Series A-4 Convertible Preferred offering

Super League Enterprise, Inc.

Offering of 1,934 shares of Series A-4 Convertible Preferred at $1,000/share for gross proceeds of ~$1.93M.
Conversion price initially $0.3801 per common share; automatic conversion after 24 months or 51% holder consent.
Company may convert 50% of shares if VWAP >= 250% of conversion price, 100% if >= 300% after one year.
Dividends payable in common stock at 20% of underlying shares on 12 and 24 month anniversaries.
Placement agent receives $193,400 cash fee, $58,020 expenses, and warrants for 737,779 shares at $0.3801.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Super League Enterprise, Inc.: Designation of 1,934 shares of Series A Preferred Stock via Certificate of Designation (effective 2022-12-22).

Change: charter amendment
Effective: 2022-12-22

Exact text from the filing

On December 22, 2022, the Company filed the Series A Certificate of Designation, designating 1,934 shares of Series A Preferred in connection with the Offering.

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

Super League Enterprise, Inc. entered into Subscription Agreements with accredited investors valued at approximately $1,934,000 (effective 2022-12-22).

Action: entry
Agreement: equity purchase
Counterparty: accredited investors
Value: approximately $1,934,000
Effective: 2022-12-22

Exact text from the filing

On December 22, 2022 (the “ Effective Date ”), Super League Gaming, Inc. (the “ Company ”) entered into subscription agreements (each, a “ Subscription Agreement ” and collectively, the “ Subscription Agreements ”) with accredited investors with respect to the sale of an aggregate of 1,934 shares of newly designated Series A-4 Convertible Preferred Stock, par value $0.001 per share (the “ Series A Preferred ”), at a purchase price of $1,000 per share, for aggregate gross proceeds to the Company of approximately $1,934,000 (the “ Offering ”).

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Super League Enterprise, Inc. filing history →

Source: SEC EDGAR

accession 0001851734-22-000745

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