On February 10, 2025, Super League Enterprise, Inc. (NASDAQ:SLE) and its subsidiary, InPVP, LLC, finalized a Business Loan and Security Agreement with Agile Capital Funding, LLC, marking a significant step for the company. The agreement includes the issuance of a Confessed Judgment Secured Promissory Note worth $2.5 million, to be repaid in 32 equal installments starting from February 17, 2025, to meet general working capital requirements.
Under the terms of the Agile Loan Agreement, the Company must adhere to certain restrictions. Notable conditions involve repayment obligations upon the occurrence of specific events, including changes in business or management and default situations. Furthermore, the Company granted Agile a first priority security interest in all assets until obligations are met.
The Purchase Agreement limits the issuance of common stock to 19.99% of the outstanding shares as of February 14, 2025, pending stockholder approval for additional shares. The Company retains control over the timing and quantity of stock sales, with Hudson acquiring shares at a price determined as a percentage of market value.
The net proceeds from the Hudson Offering are intended for various corporate purposes, including working capital, product development, and potential business acquisitions. To facilitate this funding, the Company also entered into a Registration Rights Agreement, ensuring registration of relevant shares.
Both the Agile Loan Agreement and Equity Purchase Agreement are disclosed in the recently filed SEC Form 8-K, alongside respective legal opinion letters. These agreements are crucial steps for Super League Enterprise, providing avenues for financial support and potential growth opportunities in the future.
Please note that the offering and sale of the Note mentioned in the agreements has not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent proper registration or exemption. This report does not constitute an offer to sell or a solicitation to buy securities and is for information purposes only.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Super League Enterprise’s 8K filing here.
Super League Enterprise Company Profile
Super League Enterprise, Inc creates and publishes content and media solutions across immersive platforms in the United States and internationally. The company offers access to audiences who gather in immersive digital spaces to socialize, play, explore, collaborate, shop, learn, and create. It also provides a range of development, distribution, monetization, and optimization capabilities designed to engage users through dynamic and energized programs.
Recommended Stories
- Five stocks we like better than Super League Enterprise
- What is the Dow Jones Industrial Average (DJIA)?
- NVIDIA’s Hidden AI Play: The Truth Behind Its WeRide Investment
- How Can Investors Benefit From After-Hours Trading
- Up 50% in January, Twilio’s Pullback Is the Time to Buy
- What Are Dividends? Buy the Best Dividend Stocks
- Watch These 3 Stocks—High Short Interest and Big Upside Potential