BARTLETT, Tenn., May 13, 2025 - SurgePays, Inc. (Nasdaq: SURG), a wireless and point-of-sale technology company, has announced a $7 million senior secured convertible note agreement with an institutional shareholder. This financing move is aimed at accelerating the company's growth. The note, with a principal amount of $7 million, matures two years from the issuance date and includes a conversion option to shares of the company's common stock at a fixed price of $4.00 per share, which is a premium to the market price as of May 13, 2025. The proceeds from this financing will support the nationwide launch of LinkUp Mobile and expand SurgePays' MVNE wholesale business.
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