Mobile Global Esports Inc. Announces Convertible Note Issuance with 10% Interest and Prepayment Option

Reuters08-12

Mobile Global Esports Inc. Announces Convertible Note Issuance with 10% Interest and Prepayment Option

Mobile Global Esports Inc. has announced the issuance of convertible promissory notes totaling $283,000 to an investor, dated August 6, 2025. These notes carry an annual interest rate of 10% and are set to mature on May 30, 2026. Notably, the company has provided the option for these notes to be converted into common stock starting six months post-issuance, at a conversion price calculated as 65% of the market price. Furthermore, Mobile Global Esports Inc. has outlined a prepayment plan, allowing the company to redeem the notes at 120% of the principal amount within the first 90 days from issuance, and at 125% from the 91st to the 180th day.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Mobile Global Esports Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-074358), on August 11, 2025, and is solely responsible for the information contained therein.

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