Signing Day Sports Announces Board Changes and Stock Plan By Investing.com

Signing Day Sports, Inc., a Delaware-based data processing and preparation company, recently disclosed important corporate developments following its annual meeting of stockholders on September 18, 2024 in an 8-K report filed with the U.S. Securities and Exchange Commission (SEC).

The company, which trades on the NYSE American LLC under the symbol SGN, announced that its shareholders have approved the revised 2022 Equity Incentive Plan. This plan expands the original program by an additional 2,250,000 shares for employee stock ownership. Full details were set forth in the proxy statement filed on August 9, 2024.

In addition, the election results for the Board of Directors were published. Five candidates were elected for a term of office until the 2025 Annual General Meeting: Daniel Nelson, Jeffry Hecklinski, Roger Mason Jr., Greg Economou and Peter Borish. The shareholders also confirmed BARTON CPA as the independent accounting firm for the 2024 financial year.

The stockholders also approved the issuance of all shares of common stock under various agreements with FirstFire Global Opportunities Fund, LLC and Boustead Securities, LLC, in accordance with the policies of NYSE American LLC.

In other financial developments, Signing Day Sports CEO Daniel D. Nelson has issued a $100,000 promissory note bearing interest at 20% per month. The company also agreed with FirstFire Global Opportunities Fund to potentially repurchase unexercised warrants for up to $100,000.

In addition, Clayton Adams was hired as a strategic advisor for mergers and acquisitions. In return, he will receive 127,826 common shares and an additional 668,841 shares as a private placement. CEO Daniel Nelson’s employment contract was revised with specific severance provisions in the event of termination.

Finally, the Company announced a significant agreement with its outside securities law firm, Bevilacqua PLLC (BPLLC). A payment of $684,350.98 will be deferred until the next major financing transaction and BPLLC received a pre-funded warrant to purchase 2.5 million shares of common stock.

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