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Get filing alertsSports Entertainment Gaming raises $11.8M via convertible notes with variable pricing
Filed March 18, 2026 · Period ending March 16, 2026 · ~1 min read
Key Changes
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Company issued up to $11.8M in convertible notes with $3.5M funded immediately. Notes convert at variable price: lower of issuance price or 95% of lowest 5-day VWAP, creating significant dilution risk if stock declines.
Item 1.01 verify on EDGAR → -
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Notes sold at 15% discount to face value and carry 12% annual interest, maturing in 24 months. Combined effective borrowing cost substantially exceeds stated 12% rate.
Item 1.01 verify on EDGAR → -
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Company must register conversion shares within 10 business days, enabling noteholders to freely sell converted stock and potentially creating selling pressure.
Item 1.01 verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Generated by AI · Jun 4, 2026 5:15 PM