Mike Zoi - Feb 1, 2023 Form 4 Insider Report for Motorsport Games Inc. (MSGM)

Role
10%+ Owner
Signature
/s/ Dmitry Kozko, attorney-in-fact for Mike Zoi
Stock symbol
MSGM
Transactions as of
Feb 1, 2023
Transactions value $
$2,948,565
Form type
4
Date filed
2/2/2023, 04:06 PM
Previous filing
Jan 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MSGM Class A Common Stock Purchase $2.95M +441K +42.48% $6.68 1.48M Feb 1, 2023 By Motorsport Network, LLC F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 1, 2023, Motorsport Network, LLC ("Motorsport Network") entered into a debt-for-equity exchange agreement with Motorsport Games Inc. (the "Company") pursuant to which the Company agreed to issue to Motorsport Network, LLC 441,402 shares of the Company's Class A common stock, which represents the Company's remaining balance outstanding (including the principal and accrued and not yet paid interests thereon) under the promissory note in favor of Motorsport Network dated April 1, 2020, as amended on November 23, 2020.
F2 The average Nasdaq Official Closing Price for the consecutive five trading day period ending on January 31, 2023.
F3 These shares are owned directly by Motorsport Network and indirectly by Mike Zoi as Manager of Motorsport Network.

Remarks:

Exhibit List: 99.1 List of Other Reporting Person