SurgePays Secures $7M Convertible Note for Expansion

SurgePays ( (SURG) ) has provided an update.

On May 12, 2025, SurgePays, Inc. entered into a $7 million senior secured convertible note agreement with an institutional shareholder to accelerate its growth strategy. The financing will support the nationwide launch of LinkUp Mobile and expand its MVNE wholesale business, with management projecting revenues to exceed $200 million over the next 12 months and achieving positive cash flow by the end of 2025.

The most recent analyst rating on (SURG) stock is a Buy with a $9.50 price target. To see the full list of analyst forecasts on SurgePays stock, see the SURG Stock Forecast page.

Spark’s Take on SURG Stock

According to Spark, TipRanks’ AI Analyst, SURG is a Neutral.

SurgePays faces significant financial challenges, including declining revenues and profitability issues. However, positive technical momentum and strategic initiatives, such as partnerships and service expansion, provide some optimism. The negative P/E ratio and lack of dividend yield are substantial valuation concerns. Overall, while there are growth prospects, the financial difficulties weigh heavily on the stock’s attractiveness.

To see Spark’s full report on SURG stock, click here.

More about SurgePays

SurgePays, Inc. is a wireless and fintech company that focuses on providing mobile connectivity and financial services to underserved communities. It operates as both a mobile virtual network operator (MVNO) and a mobile virtual network enabler (MVNE), offering its own wireless brand and back-end infrastructure services to other wireless providers. The company’s point-of-sale platform is widely used across retail locations for SIM activations, top-ups, and digital financial services.

Average Trading Volume: 1,687,477

Technical Sentiment Signal: Hold

Current Market Cap: $51.64M

See more data about SURG stock on TipRanks’ Stock Analysis page.