SinglePoint, Inc. announced that it has entered into a securities purchase agreement with returning investor GHS Investments, LLC for a private placement of 2,000 class D convertible preferred shares at an issue price of $1,000 per share for gross proceeds of $2,000,000 on March 11, 2021. The company will receive funding in four equal tranches of $500,000. The shares are convertible into common shares at a price of $0.023 per share. The company has the right to redeem the class D preferred stock in the transaction. The company shall pay a dividend of 3% per annum on the class D preferred stock quarterly. The shares will be issued pursuant to exemption provided under Regulation D.

On the same date, the company received $500,000 in its first tranche. The company expects to receive remaining tranches on March 19, 2021, March 26, 2021, and April 2, 2021.