Super League Enterprise issues Series B preferred stock in exchange agreement

Super League Enterprise, Inc. (NASDAQ:SLE) announced it entered into an Amended & Restated Exchange Agreement with certain holders of its preferred stock on September 12, 2025. Under the agreement, the company will issue up to 16,426 shares of newly designated Series B Convertible Preferred Stock in exchange for shares of existing preferred stock held by these investors.

The Series B Preferred Stock is convertible into common stock at the company’s discretion at any time, mandatorily on February 11, 2026, or at the option of the holder, subject to certain ownership and market limitations. The initial conversion price is set at $7.00 per share - notably above the current trading price of $3.66 - with adjustments possible for stock splits, dividends, or similar events. Each Series B share has a stated value of $1.00. For deeper insights into SLE’s valuation and 15+ additional key metrics, consider accessing the comprehensive research available on InvestingPro.

Holders of the Series B Preferred Stock will be entitled to receive dividends, on an as-converted basis, if and when dividends are paid on the company’s common stock, subject to ownership and market limitations. In the event of liquidation, dissolution, or winding up, the Series B Preferred Stock ranks senior to the company’s common stock and previously issued Series AA, Series AAA, and Series AAA Junior Preferred Stock, but junior to any future series of preferred stock.

As part of the agreement, the participating preferred stockholders agreed to terminate certain additional investment rights, waive prior price floor and indebtedness provisions, and provide a general release of obligations under the prior preferred stock terms. For six months following the agreement, these holders also agreed to vote their shares in accordance with management recommendations at stockholder meetings.

The shares of Series B Preferred were issued without registration under the Securities Act of 1933, based on exemptions in Sections 3(a)(9) and 4(a)(2). The company filed a Certificate of Designation for the Series B Preferred Stock on September 12, 2025, formally establishing the rights and preferences of the new class of shares.

This information is based on a press release statement contained in a recent SEC filing.

In other recent news, Super League Enterprise has announced several key developments. The company has secured $4.5 million through a convertible note, significantly reducing its 2025 debt obligations by approximately 90%. Additionally, Super League has entered into an Exchange Agreement with the Michael Keller Trust, resulting in the issuance of 1,500,000 shares of its Series AAAA Jr. Convertible Preferred Stock and cash payments totaling $378,002. In a strategic partnership move, Super League is expanding its collaboration with Meta-Stadiums Corp. to develop a branded sub-network of TikTok creators, scheduled to launch in Q4 2025. The company has also regained compliance with Nasdaq’s minimum bid price requirement, as its share price has reached the $1.00 threshold. Furthermore, Michael Keller has resigned from his position as a Class II member of the Board of Directors, with no disagreements cited regarding the company’s operations. These developments reflect Super League’s ongoing efforts to strengthen its financial position and strategic partnerships.

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