Agassi Sports Entertainment Corp. has entered into an amendment to a previously issued convertible promissory note and completed additional equity sales, according to a Form 8-K filed with the SEC.
The company entered into a First Amendment to a Convertible Promissory Note on October 15, 2026, with Investments AKA, LLC. The amendment converted the $1,000,000 principal balance of the note into 200,000 shares of common stock and 200,000 warrants to purchase common stock. The warrants have a three-year term expiring on October 15, 2029, and an exercise price of $7.00 per share. The amendment also confirmed that no interest had accrued as of the conversion date.
On the same day, the company entered into a Subscription Agreement with Investments AKA to purchase 300,000 units. Each unit consists of one share of common stock and one warrant. The aggregate purchase price was $1,500,000, or $5.00 per unit. The warrants issued in this transaction have identical terms to the warrants issued in the amendment.
Separately, the company reported entering into two Subscription Agreements with accredited investors on August 31, 2026, and September 18, 2026. These agreements involved the sale of 65,000 units at $5.00 per unit for a total of $325,000. The warrants granted to these investors include an ownership blocker preventing exercise if it would cause the holder and affiliates to own more than 4.999% of the company's outstanding common stock.
The company stated that the securities offered and sold were not registered under the Securities Act of 1933 and were offered pursuant to Section 4(a)(2) and/or Rule 506 of Regulation D. Following the issuance of the shares and warrants, the company reports having 13,711,824 shares of common stock issued and outstanding.
