Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 354

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 354
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 $6.5 million, which was funded on July 8, 2024. The purchase price for the Yorkville CD was 93.0% of the principal
amount or $6.045 million. Interest shall accrue on the outstanding balance of the Yorkville CD at an annual rate equal to 0%, subject
to an increase to 18% upon an event of default. The maturity date of the Yorkville CD will be 12 months after the issuance date. Yorkville
may convert the convertible debenture into shares of common stock at any time at a conversion price equal to the lower of (i) $1.375
(the “Fixed Price”) or (ii) a price per share equal to 93% of the lowest daily VWAP during the seven consecutive trading
days immediately prior to the conversion date (the “Variable Price”), but which Variable Price shall not be lower than the
floor price of $0.25 per share. Additionally, the Company, at its option, shall have the right, but not the obligation, to redeem early
a portion or all amounts outstanding under the Yorkville CD at a redemption amount equal to the outstanding principal balance being repaid
or redeemed, plus a 7% prepayment premium.

At
any time during the term that there is a balance outstanding under the Yorkville CD, Yorkville may convert an amount that shall not exceed
during any calendar month period, the greater of (i) an amount equal to 15% of the product of (A) the average of the daily traded amount
on each trading day during such period and (B) the VWAP for such trading day, and (ii) $750,000.

    F-34

Gigamoon
CD

On
November 13, 2024, the Company and Gigamoon entered into a senior secured convertible promissory note in the principal amount of $10
million (the “Gigamoon CD”). On December 15, 2024, the Company received cash of $10 million from Gigamoon for issuance of
the Gigamoon CD.

The
Gigamoon CD bears an interest rate of 7.5% per annum, which automatically shall be increased to 10.0% in the event of an event of default.
The Gigamoon CD has a maturity date of five years from the issuance, unless earlier accelerated upon the occurrence of an event of default
upon the election of the holder.