SEATXCHANGE Inc.

SEATXCHANGE Inc.

The Fan's MUST-HAVE Live Event App

Print
Security Type
Convertible Note
Categories
Entertainment
Min Investment
$100
Location
Los Angeles, CA
Offering Date
October 29, 2018
Expected Close Date
December 29, 2018
Target Raise
$10.00K-$107.00K
Deal Notes

Convertible Note l Minimum $100 (US)

Note converts to Common Stock when the company raises $500,000 in a qualified equity financing

Maturity Date: October 1, 2020

$5,000,000 Valuation Cap

20% Discount Rate

2% Annual Interest Rate

*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below

Maximum ($107,000) of Convertible Promissory Notes

Minimum ($10,000) of Convertible Promissory Notes

Company Description

Convertible Promissory NotesNote converts to Common Stock when the company raises $500,000.00 in a qualified equity financingMaturity Date: October 1, 2020$5,000,000 Valuation Cap20% Discount Rate2% Annual Interest Rate**What is a Convertible Note?A convertible note offers you the right to receive Common Stock in SXC Live Inc. dba SEATXCHANGE. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $500,000 in qualified equity financing.  The highest conversion price per security is set based on a $5,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing.  You also receive 2% interest per year added to your investment.  When the maturity date is reached, if the note has not converted then you are entitled to receive Shares equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding common shares of the Company as of immediately prior (on a fully diluted basis).

Perks

Invest in First 3 Days — If you invest ANY AMOUNT, you will receive LIFETIME no transaction fees on SEATXCHANGE app.
$100.00 (U.S.) — If you invest $100.00 (U.S.), you will receive 1 MONTH no transaction fees on SEATXCHANGE app.
$250.00 (U.S.) — If you invest $250.00 (U.S.), you will receive 3 MONTHS no transaction fees on SEATXCHANGE app.
$500.00 (U.S.) — If you invest $500.00 (U.S.), you will receive 6 MONTHS no transaction fees on SEATXCHANGE app.
$1,000.00 (U.S.) — If you invest $1,000.00 (U.S.), you will receive 1 YEAR no transaction fees on SEATXCHANGE app.
$5,000.00 (U.S.) — If you invest $5,000.00 (U.S.), you will receive LIFETIME no transaction fees on SEATXCHANGE app.

Use of Proceeds

We are seeking to raise a minimum of $10,000 and up to $107,000 in this offering through Regulation Crowdfunding.If we manage to raise our overallotment amount of $107,000, we believe the amount will last us 6-12 months and plan to use the net proceeds of approximately $100,580 over the course of that time as follows: to support our various marketing initiatives which includes, but is not limited to: (i) online digital marketing; (ii) influencer marketing; (iii) street teams; (iv) PR; and (v) strategic marketing partnerships and/or joint ventures.

Management Team / Advisory Board Bios

Amir Amini
Founder l President l Director
Amir Amini is the Founder and President of SEATXCHANGE. He left a successful legal career spanning more than thirteen years to follow his dream and bring SEATXCHANGE to life. Amir graduated cum laude, from the University of Michigan Law School in 2003, where he served as Associate Editor of the Michigan Telecommunications and Technology Law Review and was the starting shooting guard on the Intramural Graduate Basketball Championship team.

Robert Gleason
Head of User Acquisition
Director of Entertainment for SBE (2004-2015), a lifestyle hospitality company with hotels, restaurants, and nightclubs worldwide. In 2015, he became NERVO's (Forbes List highest paid) Manager. Part of Michigan State's 2001-2002 Men's Final Four Basketball Team.

Deal Notes

Convertible Note l Minimum $100 (US)

Note converts to Common Stock when the company raises $500,000 in a qualified equity financing

Maturity Date: October 1, 2020

$5,000,000 Valuation Cap

20% Discount Rate

2% Annual Interest Rate

*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below

Maximum ($107,000) of Convertible Promissory Notes

Minimum ($10,000) of Convertible Promissory Notes

Amount Raised : $13,800
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

Research Reports

No reports have been submitted

Become a Reporter

0 Comments