TechMediaBreaks – SurgePays, Inc. (Nasdaq: SURG) Secures $7M Convertible Note to Fuel LinkUp Mobile Launch and Wholesale Expansion
SurgePays (Nasdaq: SURG) has entered into a $7 million senior secured convertible note agreement with a current institutional shareholder, providing $6 million in cash and involving a repurchase of 333,333 shares. The two-year note is convertible into common stock at $4.00 per share, a premium to current market price, and includes a prepayment option at a 2% premium. Proceeds will support the national launch of LinkUp Mobile and the growth of SurgePays’ MVNE wholesale platform following its April 1 integration with AT&T. Management projects over $200 million in revenue and positive cash flow from operations by year-end 2025. To view…