DSG GLOBAL, INC. (OTCMKTS:DSGT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement
On December 23, 2020, DSG Global, Inc. (“we” or the “Company”) entered into a redeemable stock purchase agreement (the “SPA”) with GHS Investments, LLC (“GHS”) for the purchase of shares of the Company’s Series F Preferred Stock (the “Series F Preferred”) at a price of one thousand dollars ($1,000) per share and a warrant to purchase shares of the Company’s common stock at $0.50 per share (the “Warrant”). The Warrants are not eligible for cashless exercise and my only be exercised in exchange for cash payment.
On the date of the SPA, GHS purchased 1,500 shares of Series F Preferred in exchange for one million five hundred thousand dollars ($1,500,000). Further, under the terms of the SPA, GHS agrees to purchase an additional 1,500 shares of Series F Preferred upon the filing by the Company of a registration statement with the Securities and Exchange Commission (the “Registration Statement”) registering the shares underlying the Series F Preferred and underlying the Warrants. At the Company’s request, GHS agrees to purchase an additional 1,000 shares of Series F Preferred every thirty (30) days (an “Additional Closing”) as long the Registration Statement remains effective and the Company’s average daily trading volume for the thirty (30) trading days prior an Additional Closing is at least $500,000 per day. The Company has the option to buy back any outstanding shares of Series F Preferred for six (6) months from the date of issuance. No shares of Series F Preferred shall be purchased under the SPA after the two (2) year anniversary of the date of the SPA.
The foregoing information is a summary of the SPA and the Warrant involved in the transaction described above, is not complete, and is qualified in its entirety by reference to the full text of the SPA and the Warrant, which are attached as exhibits to this Current Report on Form 8-K. Readers should review the SPA and the Warrant for a complete understanding of the terms and conditions of the transaction described above.
Item 9.01. Financial Statements and Exhibits
| Exhibit No. | Name |
| 10.1 | Stock Purchase Agreement between the Company and GHS dated December 23, 2020 |
| 10.2 | Warrant Agreement dated December 23, 2020 |
DSG Global Inc. Exhibit
EX-10.1 2 ex10-1.htm Exhibit 10.1 SECURITIES PURCHASE AGREEMENT This Securities Purchase Agreement (this “Agreement”) is dated as of December 23,…
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About DSG GLOBAL, INC. (OTCMKTS:DSGT)
DSG Global, Inc., formerly Boreal Productions Inc., is a technology development company. The Company is engaged in the design, manufacture and marketing of fleet management solutions for the golf industry, as well as commercial, government and military applications. Its principal activities are the sale and rental of global positioning system (GPS) tracking devices and interfaces for golf vehicles and related support services. The Company offers TAG suite of products, which is sold and installed around the world in golf facilities and as commercial applications. The Company focuses on the golf industry where its TAG system is deployed to help golf course operators manage their fleet of golf carts, turf equipment and utility vehicles. It offers TAG system vehicle control functionality and two golfer information display systems: the alphanumeric TEXT and high definition TOUCH. It operates in various regions, including Canada, United Kingdom and the United States.
