Item
1.01 Entry into a Material Definitive Agreement.
As
previously reported by Vinco Ventures, Inc. (the “Company”), (i) pursuant to that certain Securities Purchase Agreement (“July
SPA”) dated as of July 22, 2021 by and between the Company and an accredited institutional investor (the “Holder), the Company
sold to the Holder a Senior Secured Convertible Note in the aggregate principal amount of $120,000,000, of which an aggregate amount
of $113,000,000 remains outstanding (the “July Note”) and warrants and (ii) on each of September 1, 2021, November 11, 2021
and December 20, 2021 the Company and the Holder entered into a Warrant Exercise Agreement (respectively, the “September WEA,”
the “November WEA,” the “December WEA” and, collectively, the Warrant Exercise Agreements”) whereby pursuant
to each Warrant Exercise Agreement the parties agreed for, among other things, the Holder to exercise certain existing warrants and for
the Company to issue new warrants to the Holder.
On
March 9, 2022, the Company, Cryptyde, Inc. and the Holder entered into an Amendment Agreement (the “Amendment Agreement”)
whereby the parties agreed to, among other things: (i) amend certain provision of the July Note to (a) convert $10,000.00 of the principal
amount of the July Note at a conversion price of $0.01 into shares of Common Stock, (b) extend the Maturity Date under the July Note
to July 22, 2023, (c) increase the interest rate on the July Note from zero percent (0%) to six percent (6.0%), (d) reduce the maximum
cap of the Minimum Cash in the Control Account from $100,000,000 to $80,000,000, and (e) require the Company to redeem $33,000,000 of
the Principal of the July Note, together with accrued and unpaid Interest and accrued and unpaid Late Charges on such Principal and Interest,
on July, 22, 2022; (ii) to extend certain dates relating to the (x) Company’s registration of certain securities under the Warrant
Exercise Agreements to April 30, 2022, (y) Company’s filing of a proxy statement to April 30, 2022 and (z) Company holding a stockholder
meeting and obtaining a stockholder vote to June 4, 2022 or July 4, 2022 in the event that the Company receives comments from the Securities
and Exchange Commission with respect to the proxy statement; and (iii) to waive any adjustments to convertible securities or options
as a result of the Adjusted Conversion Price (as defined in the Amendment Agreement).
The
Amendment Agreement includes representations, warranties and covenants, and conditions to closing, expense and reimbursement obligations
and termination provisions.
The
foregoing description of the terms of the Amendment Agreement and the transactions contemplated
thereby, does not purport to be complete and is qualified in its entirety by reference to the Amendment Agreement, which is filed as
Exhibit 10.1 hereto and is incorporated herein by reference.