Curated News
By: NewsRamp Editorial Staff
May 14, 2025
SurgePays (Nasdaq: SURG) Secures $7 Million Convertible Note Agreement for Growth
TLDR
- SurgePays secures $7 million agreement, $6 million cash, 333,333 share repurchase, $4.00 per share conversion, potential growth and $200 million revenue projection.
- SurgePays signed $7 million senior secured convertible note with institutional shareholder, $6 million cash, 333,333 share repurchase, 2% prepayment option, supports LinkUp Mobile and MVNE wholesale platform growth.
- SurgePays aims to deliver mobile connectivity and financial services to underserved communities, enabling SIM activations, top-ups, and digital financial services, enhancing national launch and growth prospects.
- SurgePays enters $7 million agreement, $6 million cash, 333,333 share repurchase, $4.00 per share conversion, AT&T integration for future growth, potential $200 million revenue by 2025.
Impact - Why it Matters
This news matters as SurgePays' strategic financing deal will fuel the expansion of its mobile connectivity and financial services to underserved communities, potentially leading to significant revenue growth and positive cash flow by 2025.
Summary
SurgePays (Nasdaq: SURG) secures $7 million convertible note agreement with institutional shareholder, providing cash for national launch of LinkUp Mobile and growth of MVNE wholesale platform. Management projects over $200 million in revenue by 2025.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, SurgePays (Nasdaq: SURG) Secures $7 Million Convertible Note Agreement for Growth
