On May 12, 2025, SurgePays, Inc. issued a Senior Secured Convertible Note worth $6,999,999 to Funicular Funds, which includes a 1.25% monthly interest rate and allows conversion to stock at $4.00 per share, resulting in net proceeds of $5,925,000. Starting January 2026, the company must pay $500,000 monthly until maturity on May 12, 2027.