Digerati Technologies, Inc. entered into a material definitive agreement for the private placement of a convertible promissory note at an issue price of $250,000 for gross proceeds of $250,000 along with 358,000 commitment shares on April 14, 2023. The transaction included participation from MGR Limited Partnership. The maturity date of the note is the earlier of October 14, 2023, or the 30th day following the company's up-list transaction on the Nasdaq Capital Market.

The promissory note is convertible at a conversion price of $0.10 per share.