Company: MFON
Filing Date: 2025-08-05
Form Type: DEFA14A
Source: 0001140361-25-028873
Chunk: 38

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-08-05
Form: DEFA14A
Chunk 38
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3. Conversion. (a) No Conversion. Until the Articles of Incorporation of the Borrower have been amended pursuant to Section 4.03 of the Note Purchase Agreement, the Lender will not convert the Note. (b) Optional Conversion .Subject to Section 3(a) hereof, at any time after six months from the date but prior to the closing of a Corporate Transaction (subject to the limitations in Section 3(d)), all or part of the outstanding principal and/or accrued but unpaid interest under the Note may, upon the written election of the Lender, be converted into shares of the Borrower’s Common Stock at the Conversion Price. The written election of the Lender must specify the amount of outstanding and/or accrued but unpaid interest to be converted and the intended date of such conversion. (c) Mandatory Conversion. In the event that the Borrower issues and sells shares of its equity securities to investors in a Qualified Financing prior to the maturity date, then the outstanding principal amount of the Note and any unpaid accrued interest shall automatically convert in whole without any further action by the Lender into Common Stock at the Conversion Price. (d) Corporate Transaction Conversion .The Borrower shall notify the Lender at least 10 days prior to the closing of a Corporate Transaction involving the Borrower. Within five days of receipt of such notice, the Lender shall elect either (i) a cash payment equal to the outstanding principal and accrued but unpaid interest under the Note or (ii) convert the Note into shares of a newly created preferred stock of the Borrower, upon terms mutually agreed between the Borrower and Lender, including that the preferred stock would have full ratchet anti-dilution protection against the first subsequent capital raise of at least $5,000,000, at the Conversion Price. (e) No Fractional Shares .The number of shares and/or units of Borrower securities issuable pursuant to this Section 3 will be rounded down to the nearest whole share. (f) Definitions. For purposes of the Note, the following terms shall have the meanings ascribed to them below: “ Common Stock”means the Borrower’scommon stock, $0.001 par value. “ Conversion Price” shall be equal to 90% of the Volume Weighted Average Price (VWAP) of the Borrower’s publicly traded common stock on the date of conversion, if the Borrower is publicly listed. If the Borrower is not publicly traded, the Conversion Price shall be 90% of the VWAP