Mobivity Holdings Corp. announced a private placement of convertible note for proceeds of $4,466,043 on November 15, 2022. The transaction will include participation from Thomas B. Akin.

The Convertible Note accrues interest monthly at 15% per annum. Principal and accrued interest payments are due in 24 monthly installments under the Convertible Note beginning on January 31, 2023 and continuing on the last day of each of the next 23 months thereafter. The Convertible Note and all accrued interest thereon are convertible into shares of our common shares, from time to time, at the option of the holder thereof, at a conversion price per share equal to 85% of the volume-weighted average price of our common stock quoted on the OTCQB « Venture Market operated by OTC Markets Group Inc. over the thirty trading days immediately preceding such date.

The Convertible Note and all accrued interest thereon will be automatically converted into common stock at the Conversion Price on the date that is five business days prior to the date on which the Company becomes listed on a national securities exchange if all listing requirements have been satisfied by the Company.