Sports Entertainment Gaming Global entered into a Securities Purchase Agreement with Amorua Global and issued a $3.5 million unsecured convertible promissory note. The 24-month note bears 12% interest, includes a 15% original issue discount, and is convertible at the lower of the issuance-date closing price or 95% of the lowest five-day VWAP, subject to a 9.99% ownership cap. The company will file a Form S-1 to register the resale of conversion shares and plans to use proceeds for general corporate purposes, including about $500,000 to repay the Alumni Capital note.
Agreement details:
- Agreement type: Unsecured 24-month convertible promissory note under a Securities Purchase Agreement
- Counterparty: Amorua Global
- Signed / Effective: May 26 2026 / May 26 2026
- Duration / Termination: 24 months
- Reason: Fund operations and repay $500,000 under Alumni Capital note
Original SEC Filing: Sports Entertainment Gaming Global Corp [ SEGG ] – 8-K – Jun. 03, 2026
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