Company: AAPI
Filing Date: 2025-08-07
Form Type: 8-K
Source: 0001477932-25-005556
Chunk: 0

Company: Apple iSports Group, Inc.
Filing Date: 2025-08-07
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry of a Material Definitive Agreement.

On August 5, 2025, the Company entered into a Common Stock Purchase Agreement (the “ Facility Agreement”) and related instruments with LDA Capital Group LLC, a Wyoming limited liability company (“ Purchaser”).

Under the Facility Agreement, the Company has the ability to issue and sell to the Purchaser and the Purchaser shall purchase from the Company during a three year investment period up to a maximum of Twenty-Five Million Dollars ($25,000,000) of its common stock (the “ Aggregate Limit”) on a firm commitment basis.

Subject to certain conditions, the Company, from time to time, may submit draw down requests to the Purchaser to purchase shares of the Company’s common stock at a prescribed purchase price. The amount of each draw down request (the “ Draw Down Amount Requested”) shall not exceed four hundred percent (400%) (the “ Draw Down Limit”) of the average daily trading volume for the ten (10) trading days immediately preceding a draw down request. The Purchaser shall be obligated to accept the Company’s draw down notice, provided that the Purchaser, in its sole discretion, shall not be obligated to accept more than fifty percent (50%) of the requested draw down amount and shall have the option to purchase up to two hundred percent (200%) of the Draw Down Amount Requested. The price per share to be paid by the Purchaser shall equal ninety percent (90%) of the average daily closing price during the pricing period for such Draw Down (the “ Purchase Price”). The foregoing is subject to the Company filing with the Securities and Exchange Commission and have declared effective a Form S-1 covering the common stock subject to the Facility Agreement. The registration statement must be within 120 days from the closing date (August 5, 2025). In this regard, the parties have entered into a Registration Rights Agreement with respect to the registration of the common stock subject to the Facility Agreement.

Purchaser received a commitment fee from the Company equal to two percent (2%) of the Aggregate Limit payable as provided for in the Facility Agreement and an expense fee of $25,000. In addition, the Company issued a common stock purchase warrant (“ Warrant”) to the Purchaser to acquire 7,692,492 shares of common stock at an initial exercise price of $7.76 per share. The exercise price shall be adjusted on the six and eighteen month anniversary to the lower of the initial exercise price or a price equal