Fitell Corp Completes Second Closing on Securities Purchase Agreement

TL;DR

Fitell Corp closed another tranche of its stock sale to an institutional investor on Oct 8.

AI Summary

On October 8, 2025, Fitell Corporation completed the second closing of a Securities Purchase Agreement with an institutional investor. This agreement, initially dated September 19, 2025, allows the company to sell shares to the investor, subject to certain conditions.

Why It Matters

This filing indicates progress in Fitell Corporation's capital raising efforts, potentially impacting its financial flexibility and future operations.

Risk Assessment

Risk Level: low — The filing is a routine update on a previously announced transaction and does not introduce new material risks.

Key Players & Entities

• Fitell Corporation (company) — The reporting company
• October 8, 2025 (date) — Date of the Second Closing
• September 19, 2025 (date) — Date of the original Purchase Agreement
• Securities Purchase Agreement (document) — The agreement governing the share sale
• institutional investor (company) — The buyer in the Securities Purchase Agreement

FAQ

Key Financial Figures

• $100 million — from time to time an aggregate of up to $100 million in newly issued senior secured converti
• $70 million — gregate original principal amount up to $70 million (the “Series A Notes”) and
• $30 million — gregate original principal amount up to $30 million (the “Series B Notes” and t
• $11 million — aggregate original principal amount of $11 million (the “Initial Note”) at a p
• $10,780,000 — ial Note”) at a purchase price of $10,780,000 at the Initial Closing. To date, the Bu
• $3,000,000 — osing. To date, the Buyer has converted $3,000,000 of the $11 million Initial Note. At the
• $4 million — ote in the original principal amount of $4 million (the “Second Note”) at a pu
• $3,920,000 — ond Note”) at a purchase price of $3,920,000. After the issuance of the Second Note
• $85 million — te maximum original principal amount of $85 million. Each form of Additional Note issued at
• $70 million — any has issued and sold an aggregate of $70 million of Notes, following which each form of
• $0.0016 — uo;Conversion Shares”), par value $0.0016 per share (the “Ordinary Shares&r
• $6.024 — Conversion Amount by the lower of: (y) $6.024 and (z) the Market Price (as defined in
• $45,000 — out-of-pocket expenses in the amount of $45,000 and (iii) pay the Placement Agent&rsquo
• $15,950 — e, which closing costs shall not exceed $15,950. The foregoing descriptions of the Pu

Filing Documents

• form6-k.htm (6-K) — 30KB
• 0001493152-25-017435.txt ( ) — 31KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: October 8, 2025 FITELL CORPORATION By: /s/ Yinying Lu Yinying Lu Chief Executive Officer and Director (Principal Executive Officer)

View Full Filing

View this 6-K filing on SEC EDGAR