[8-K] Mobile Global Esports, Inc. Reports Material Event

false 0001886362 0001886362 2025-09-16 2025-09-16 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 16, 2025

Mobile Global Esports Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-41458		86-2684455
(State or other jurisdiction of		(Commission File Number)		IRS Employer
incorporation or organization)				Identification No.)

500 Post Road East, 2nd Floor

Westport, CT 06880

(Address of principal executive offices)

Registrant’s telephone number, including area code: (475) 666-8401

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:		Trading Symbol(s)		Name of each exchange on which registered:
Common Stock		MGAM		OTC Pink Sheets

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement

On September 16, 2025, Mobile Global Esports, Inc. (the “Company”) issued a convertible promissory note in the aggregate principal amount of $150,000 of which $$15,000 is original issue discount (the “Note”) to an investor (the “Investor”).

The Note bears interest at 6% per annum and has a maturity date of September 15, 2026. In addition, the Note is convertible into the Company’s common stock beginning six (6) months after issuance at a conversion price equal to 65% multiplied by the Market Price. Market Price means the lowest trading price of the common stock during the fifteen (15) trading day period ending on the latest complete trading day prior to the conversion date. The Note may be prepaid by the Company at 110% beginning on the date of issuance until twenty nine (29) days following the issuance date, 115% beginning on the thirtieth (30^th) day following the issuance date and ending fifty nine (59) days following the issuance date, 125% beginning on the sixtieth (60^th) day following the issuance date and ending on the eighty ninth (89^th) day following the issuance date, 130% beginning on the ninetieth (90^th) day following the issuance date and ending on the one hundred nineteenth (119^th) day following the issuance date, 135% beginning on the one hundred twentieth (120^th) day following the issuance date and ending on the one hundred forty ninth (149^th) day following the issuance date and 140% beginning on the one hundred fiftieth (150^th) day following the issuance date and ending one hundred eighty (180) days following the issuance date .

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

- 1 -

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: September 22, 2025

MOBILE GLOBAL ESPORTS INC.

	By:	/s/ Brett Rosin
		Brett Rosin
		Chief Executive Officer

- 2 -