SurgePays Secures $7 Million Senior Secured Convertible Note to Boost Growth Strategy

Reuters

05-17

SurgePays Secures $7 Million Senior Secured Convertible Note to Boost Growth <a href="https://laohu8.com/S/MSTR">Strategy</a>

SurgePays, Inc. (Nasdaq: SURG), a wireless and point-of-sale technology company, has announced a $7 million senior secured convertible note agreement with a current institutional shareholder. The financing, which aims to accelerate the company's growth, features a fixed conversion price of $4 per share, a premium to the market price as of May 13, 2025. The principal amount is set at $7 million, with a maturity term of two years from the issuance date. This financing is intended to support the nationwide launch of LinkUp Mobile and the expansion of the MVNE wholesale business, following the integration with AT&T. SurgePays projects revenue to exceed $200 million over the next 12 months, with positive cash flow from operations expected by the end of 2025.

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. Surgepays 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: 0001641172-25-011299), on May 16, 2025, and is solely responsible for the information contained therein.

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(Nasdaq: SURG), a wireless and point-of-sale technology company, has announced a $7 million senior secured convertible note agreement with a current institutional shareholder. The financing, which aims to accelerate the company's growth, features a fixed conversion price of $4 per share, a premium to the market price as of May 13, 2025. The principal amount is set at $7 million, with a maturity term of two years from the issuance date. This financing is intended to support the nationwide launch of LinkUp Mobile and the expansion of the MVNE wholesale business, following the integration with AT&amp;T. SurgePays projects revenue to exceed $200 million over the next 12 months, with positive cash flow from operations expected by the end of 2025.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>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. <a href=\"https://laohu8.com/S/SURG\">Surgepays Inc</a>. 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: 0001641172-25-011299), on May 16, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250516:nNDL4xz1ts:1","article_id":"2536250573","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2536250573","pubTimestamp":1747431219,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"SurgePays, Inc. , a wireless and point-of-sale technology company, has announced a $7 million senior secured convertible note agreement with a current institutional shareholder. 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(Nasdaq: SURG), a wireless and point-of-sale technology company, has announced a $7 million senior secured convertible note agreement with a current institutional shareholder. The financing, which aims to accelerate the company's growth, features a fixed conversion price of $4 per share, a premium to the market price as of May 13, 2025. The principal amount is set at $7 million, with a maturity term of two years from the issuance date. This financing is intended to support the nationwide launch of LinkUp Mobile and the expansion of the MVNE wholesale business, following the integration with AT&T. SurgePays projects revenue to exceed $200 million over the next 12 months, with positive cash flow from operations expected by the end of 2025.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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