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. On May 29 and May 30, 2024, the two parties agreed to partition new promissory notes from an original note dated July 13, 2021, with a principal amount of $1,580,000. The agreement resulted in the reduction of the original note's outstanding balance by $423,500 and the issuance of 2,935,557 shares of SinglePoint's common stock in exchange for the partitioned notes. Following the transaction, the remaining principal on the original note is approximately $133,496. The exchange was conducted under an exemption from registration requirements, as per Section 3(a)(9) of the Securities Act of 1933. The full terms of the Exchange Agreements are referenced in Exhibit 10.1 of the report filed on May 24, 2024.