SinglePoint Inc. announced that it has entered into a securities purchase agreement for the private placement of 15% original issue discount convertible promissory notes, and warrants to purchase shares of common stock of the company for gross proceeds of $4,885,354 on April 21, 2022. The transaction will include participation from Cameron Bridge LLC, Target Capital LLC, and Walleye Opportunities Master Fund Ltd, a fund managed by Walleye Capital LLC. Each note was designated as a 15% convertible promissory note due the earlier of January 21, 2023 or upon the occurrence of the liquidity event.

Upon an event of default, interest on the notes immediately accrues thereafter at a rate equal to 18% per annum which shall be paid in cash monthly until the default is cured. The company shall have the option to prepay the notes at any time after the original issue date prior to or on the maturity date at an amount equal to 120% of the prepayment amount.