UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry Into a Material Definitive Agreement.
As previously reported in LiveOne, Inc.’s (“LiveOne”) Current Report on Form 8-K, filed with the SEC on July 20, 2022 (File No. 001-38249), on July 15, 2022, Courtside Group, Inc. (dba PodcastOne) (the “Company”), a wholly owned subsidiary of LiveOne, completed a private placement offering of the Company’s unsecured convertible notes with an original issue discount of 10% in the aggregate principal amount of $8,838,500 (the “Notes”) to certain accredited investors and institutional investors (collectively, the “Purchasers”), for gross proceeds of $8,035,000 pursuant to the Subscription Agreements entered into with the Purchasers.
Pursuant to the terms of the Notes, on July 6, 2023, the Company notified the Purchasers of its election to extend the maturity date of the remaining Notes to October 15, 2023 in connection with the Company’s continued efforts to consummate a direct listing of the Company’s shares of common stock on a national securities exchange.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information described under Item 1.01 above is incorporated by reference in this Item 2.03.
Item 3.02 Unregistered Sales of Equity Securities.
The information described under Item 1.01 above is incorporated by reference in this Item 3.02.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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 hereunto duly authorized.
| COURTSIDE GROUP, INC. | ||
| Dated: July 11, 2023 | By: | /s/ Robert S. Ellin |
| Name: | Robert S. Ellin | |
| Title: | Executive Chairman | |