Super League Enterprise Enters into Material Agreements and Appoints New Director_

Super League Enterprise, Inc. (NASDAQ: SLE) disclosed on October 29, 2024, that it has engaged in significant transactions marking new strategic alignments. The company, based in Santa Monica, California, entered into an Amended and Restated Equity Exchange Agreement with Infinite Reality, Inc., revising a previous Equity Exchange Agreement dated September 30, 2024. This recent agreement involves the issuance of 2,499,090 shares of common stock in exchange for 216,831 shares of Infinite Reality common stock. The exchange is slated for two phases, with an initial closing of 1,215,279 shares and a subsequent closing subject to shareholder approval.

The involved shares in this transaction are exempt from Securities Act registration requirements as per Section 4(a)(2) and/or Rule 506(b) of Regulation D. It is essential to note that the aforementioned details only provide a partial delineation of this agreement, with the full agreement documentation filed under Exhibit 10.1 to the Form 8-K submission.

Concurrently, Super League Enterprise’s Board of Directors sanctioned the execution of Indemnification Agreements with its directors to safeguard against expenses and claims arising from their services within the company. This indemnification will be extended for actions taken or not taken on the company’s behalf. The specifics of these agreements are comprehensively demonstrated in the Form of Indemnification Agreement filed as Exhibit 10.2.

In a decisive move, the company welcomed Clark Callander to its Board of Directors effective October 29, 2024. Mr. Callander, who brings extensive experience in the financial sector, has previously held significant roles in leading financial organizations. His appointment delineates a strategic incorporation of talent to the Board, aligning with Super League Enterprise’s growth objectives.

Super League Enterprise took additional steps by issuing a press release on October 29, 2024, to formally announce the discussed agreements and Mr. Callander’s appointment. This communication marked a transparent effort to inform stakeholders and interested parties about the recent developments within the organization.

These transformative actions underscore Super League Enterprise’s dedication to fortifying its strategic frameworks through collaborative partnerships, governance enhancements, and the infusion of experienced leadership. As the company navigates its growth trajectory, these initiatives are poised to position it favorably within the market landscape.

The complete details of the mentioned agreements, appointments, and announcements are available in the official Form 8-K filing submitted to the Securities and Exchange Commission on October 29, 2024. This filing, along with accompanying exhibits, sheds light on the intricacies and implications of the recent undertakings by Super League Enterprise.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Super League Enterprise’s 8K filing here.

Super League Enterprise Company Profile

Super League Enterprise, Inc creates and publishes content and media solutions across immersive platforms in the United States and internationally. The company offers access to audiences who gather in immersive digital spaces to socialize, play, explore, collaborate, shop, learn, and create. It also provides a range of development, distribution, monetization, and optimization capabilities designed to engage users through dynamic and energized programs.