Summary by Futu AI
SinglePoint Inc. has entered into a material definitive agreement with Bucktown Capital, LLC, as detailed in a Form 8-K report filed with the SEC. The agreement, executed on May 21 and May 22, 2024, involves the partitioning of new promissory notes from an original note dated July 13, 2021, with a principal amount of $1,580,000. The transaction reduces the outstanding balance of the original note by $360,000 and exchanges the partitioned notes for 2,518,186 shares of SinglePoint's common stock. Following the exchange, the remaining principal on the original note is approximately $738,000. The exchange of equity securities was conducted under an exemption from registration requirements pursuant to Section 3(a)(9) of the Securities Act of 1933.