Signing Day Sports, Inc. announced it has entered into a securities purchase agreement of senior secured convertible promissory note with principal of $412,500 for gross proceeds $375,000, 187,500 shares of the Company?s common stock, a First FF Warrant to purchase up to 1,375,000 shares of common stock and a second warrant, to purchase up to 250,000 shares of common stock for gross proceeds $375,000 on May 16, 2024. The transaction includes participation from new investor, FirstFire Global Opportunities Fund, LLC. The principal amount of the FF Note will bear interest at the rate of 10% per annum on a 365-day basis.

The interest will be guaranteed, which requires that all interest that would accrue through the latest date of maturity be paid. The FF Note will mature on the earlier of the 12-month anniversary date of the issuance date, or May 16, 2025, and the date of the consummation of a sale, conveyance or disposition of all or substantially all of the assets of the Company, or the consolidation, merger or other business combination of the Company with or into any other entity when the Company is not the survivor. The securities that may be issued by the Company to the Investor under the FirstFire Purchase Agreement are being offered and sold by the Company to the Investor in a transaction that is exempt from the registration requirements of the Securities Act in reliance on Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D thereunder.

The company raised $375,000 in funding pursuant to exemption provided under Regulation D. The transaction included participation from a single investor. As a part of the transaction, the company paid $44,000 as shares of common stock