CAST · FreeCast, Inc. Class A Common Stock

0001213900-26-049267

Summary

FreeCast, Inc. entered into a $5 million convertible promissory note with a related party, with $3.9 million outstanding as of April 29, 2026.

Key takeaways

FreeCast issued a $5 million convertible note to Nextelligence, controlled by CEO William A. Mobley Jr.
Outstanding principal was $3.9 million as of April 29, 2026, with $500,000 borrowed after April 21.
Interest accrues at 12% per annum, with default rate of 18%; maturity is June 30, 2027.
Nextelligence can convert debt into Class A common stock at the closing price on conversion notice date.
The transaction creates a direct financial obligation and potential dilution for existing shareholders.

Full analysis

FreeCast, Inc. entered into a $5 million convertible promissory note with Nextelligence, Inc., a related party controlled by CEO William A. Mobley Jr. As of April 29, 2026, $3.9 million was outstanding. The note carries a 12% interest rate, matures June 30, 2027, and is convertible into Class A common stock at the market price. This financing provides working capital but creates potential dilution and related-party risk.