New loans, notes, and credit facilities disclosed under 8-K Items 2.03/2.04.
Arena Group Holdings, Inc. reported a default on credit facility of approximately $19,609,000 with SLR Digital Finance LLC.
“of cross-default with SLR Digital Finance LLC (“SLR”). The Company is in discussion with SLR. The principal amount due under the credit facility with SLR was approximately $ 19,609,000 as of December 31, 2023.”
Arena Group Holdings, Inc. reported a default on senior notes of approximately $110,691,000 with Renew Group Private Limited.
“Renew Group Private Limited (“RGPL” and the “RGPL Notes” respectively) in the amount of approximately $2,797,000. The outstanding principal on the RGPL Notes was approximately $110,691,000 as of December 31, 2023. This created an event of default under the RGPL Notes (the “RGPL Default”). The Company is currently in discussions with RGPL to restructure and/or amend”
CAMDEN PROPERTY TRUST incurred senior notes of $400,000,000 aggregate principal amount with BofA Securities, Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC and Truist Securities, Inc. at 4.900% maturing January 15, 2034.
“to issue and sell to the Underwriters $400,000,000 aggregate principal amount of its 4.900% Notes due 2034”
LTC PROPERTIES INC amended credit facility maturing November 19, 2026.
“On January 4, 2024, LTC Properties, Inc. (“LTC”) announced that it had entered into a Second Amendment to Third Amended and Restated Credit Agreement (the “Credit Agreement”) to accelerate the one-year extension option notice date to January 4, 2024. Concurrently, LTC exercised its option to extend the maturity date of the Credit Agreement to November 19, 2026.”
EMPIRE PETROLEUM CORP incurred revolving credit of initial revolver commitment amount is $10,000,000 with Equity Bank at prime rate of interest plus 1.50% maturing December 29, 2026.
“the initial revolver commitment amount is $10,000,000; (b) the maximum revolver commitment amount is $15,000,000; (c) commencing on January 31, 2024, and occurring on the last day of each calendar month thereafter, the revolver commitment amount is reduced by $150,000; (d) commencing on March 31, 2024, there are scheduled semiannual collateral borrowing base redeterminations each year on March 31 and September 30; (e) the final maturity date is December 29, 2026; (f) outstanding borrowings bear interest at a rate equal to the prime rate of interest plus 1.50%, and in no event lower than 8.50%”
HARTE HANKS INC amended revolving credit of $25,000,000 with Texas Capital Bank at SOFR plus a margin of 2.25% per annum maturing June 30, 2025.
“Act. ☐ Item 1.01 Entry into a Material Definitive Agreement. Harte Hanks, Inc. (as “Harte Hanks” or as the “Company”) previously secured (on December 21, 2021) a three-year, $25,000,000 asset-based revolving credit facility (the “ABL Agreement”) with Texas Capital Bank ("TCB"). On December 29, 2029, Harte Hanks, Inc. and various subsidiaries serving as guarantors”
OMNICOM GROUP INC. incurred term loan of US$600,000,000 with Citibank, N.A., as administrative agent for the Lenders at a base rate or a term rate, in either case, plus an applicable margin and fees maturing December 31, 2026.
“On January 3, 2024 (the “Effective Date”), Omnicom Group Inc. (“Omnicom Group”) and its wholly owned subsidiary Omnicom Capital Inc. (the “Borrower” and, together with Omnicom Group, the “Loan Parties”) entered into a Delayed Draw Term Loan Agreement (the “Credit Agreement”) with the initial lenders named therein (the “Lenders”), Citibank, N.A., BofA Securities, Inc., Barclays Bank PLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA), Inc., JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd., Société Générale, Sumitomo Mitsui Banking Corporation, TD Securities (USA), LLC, U.S. Bank National Association and Wells Fargo Securities, LLC, as lead arrangers and book managers, and Citibank, N.A., as administrative agent for the Lenders (the “Agent”). The Credit Agreement has a maturity date of December 31, 2026 and provides for a delayed-draw term loan facility in an aggregate principal amount of US$600,000,000.”
iCoreConnect Inc. amended convertible notes.
“On December 29, 2023, the Company entered into amendments with holders of two an Amendment to Convertible Promissory Notes issued on October 13, 2023 and October 26, 2023 (the “Notes”) whereby the holders of the Notes agreed that the Notes would not be convertible into shares of Company Common stock unless and until the Company’s shareholders approve such conversion per NASDAQ Listing Rule 5635(d).”
iCoreConnect Inc. incurred convertible notes of $100,000 at 12% per annum maturing December 28, 2024.
“On December 29, 2023, the Company entered into a securities purchase agreement with an existing investor, pursuant to which the Company issued the investor a convertible note in principal amount of $100,000 in exchange for $100,000 (the “Convertible Promissory Note”).”
iCoreConnect Inc. incurred loan of $2,000,000 at 15% per annum maturing December 31, 2024.
“On December 29, 2023, iCoreConnect, Inc. (the “Company”) issued a subordinated note to a service provider in principal amount of $2,000,000 in exchange for conversion of an accounts payable in the amount of $2,000,000.”
Pinstripes Holdings, Inc. incurred loan of $5.0 million with Silverview Credit Partners LP.
“Also on December 29, 2023, immediately following the consummation of the Business Combination, Pinstripes borrowed an additional $5.0 million under the Loan Agreement, dated as of March 7, 2023 by and among Pinstripes, Inc., Silverview Credit Partners LP, and other institutional investors from time to time (as amended, supplemented, amended and restated or otherwise modified from time to time, the “Silverview Loan Agreement”).”
Pinstripes Holdings, Inc. incurred term loan of $50.0 million with Oaktree Fund Administration, LLC at 12.5% payable quarterly in arrears, at Pinstripes’ option either in cash or in k maturing December 29, 2028.
“Also on December 29, 2023, immediately following consummation of the Business Combination, Pinstripes and the registrant entered into a Loan Agreement (the “Oaktree Loan Agreement”) with Oaktree Fund Administration, LLC, as agent (the “Agent”) and the lenders party thereto (the “Lenders), providing for a term loan of $50.0 million to Pinstripes (the “Tranche 1 Loan”).”
Chain Bridge I amended loan of $1.15 million loan converted into Loan Conversion Warrants with CB Co-Investment LLC at not specified maturing not specified.
“As of the Closing Date, and in connection with the consummation of the transactions contemplated by the Securities Purchase Agreement: (1) CB Co-Investment irrevocably agreed to convert the $1.15 million loan by CB Co-Investment to the Company into Loan Conversion Warrants (as contemplated and defined in that certain Warrant Agreement, dated November 9, 2021 by and between the Company our transfer agent (the "Warrant Agreement")).”
Chain Bridge I incurred convertible notes of up to $1.5 million with Fulton AC I LLC at non-interest bearing maturing upon consummation of the Company's initial Business Combination.
“On December 29, 2023, Fulton AC agreed to loan the Company up to $1.5 million pursuant to an unsecured non-interest bearing convertible promissory note (the "Fulton AC Note") in the same form and on the same terms as the CBG Note. The Fulton AC Note will not be repaid in the event that the Company is unable to close a Business Combination unless there are funds available outside the Trust Account to do so. The Fulton AC Note will either be paid upon consummation of the Company's initial Business Combination, or, at the discretion Fulton AC, converted into additional warrants at a price of $1.00 per warrant, which warrants will be identical to the Private Placement Warrants.”
two incurred loan of up to $440,089.65 with HC PropTech Partners III LLC at no interest maturing upon the earlier of the consummation of the Company's initial business combination or the date of liquidation of the Company.
“On December 29, 2023, two, a Cayman Islands exempted company (the " Company "), issued a promissory note (the " Note ") in the aggregate principal amount of up to $440,089.65 (the " Extension Funds ") to HC PropTech Partners III LLC, the Company’s sponsor”
Cambium Networks Corp amended credit facility with Bank of America, N.A. at Applicable Rate of interest being incurred on any outstanding Loans is increased maturing November 17, 2026.
“The Second Amendment amends the Existing Credit Agreement by, among other things, establishing a Covenant Relief Period during which time Holdings is (a) required to maintain certain Liquidity as provided in the Amended Credit Agreement, (b) required to maintain certain levels of Consolidated EBITDA as provided in the Amended Credit Agreement, (c) required to provide certain additional financial reporting to the Administrative Agent and (d) not required to meet (or, during such period, test) its Consolidated Leverage Ratio or Consolidated Fixed Charge Coverage Ratio. Additionally, the Second Amendment provides that, during the Covenant Relief Period, (x) the Applicable Rate of interest being incurred on any outstanding Loans is increased to 3.25% per annum for Term SOFR Loans and 2.25% per annum for Base Rate Loans, (y) the commitment fee for undrawn commitments is increased to 0.35% and (z) the ability of the Loan Parties to make certain Investments, Dispositions and Restricted Paymen”
Aditxt, Inc. amended senior notes of increase in the aggregate principal balance of $250,000 with Holders.
“increase in the aggregate principal balance of $250,000 on the September 2024 Secured Notes”
Aditxt, Inc. amended senior notes with Holders maturing January 31, 2024.
“that the maturity date of the January 2024 Secured Notes would be further extended to January 31, 2024”
Aditxt, Inc. amended senior notes with Holders maturing January 5, 2024.
“he Company, Evofem and the holders of certain senior indebtedness of Evofem (the “ Notes ”) entered into an Assignment Agreement dated December 11, 2023, pursuant to which the Holders assigned the Notes to the Company in consideration”
Serina Therapeutics, Inc. incurred convertible notes of $500,000 with Juvenescence Limited maturing February 14, 2024.
“On January 3, 2024, AgeX drew $500,000 of its credit available under the Amended and Restated Secured Convertible Promissory Note, as amended, (“Secured Note”) with Juvenescence Limited (“Juvenescence”).”
Veritas Farms, Inc. amended convertible notes with Cornelis F. Wit Revocable Living Trust maturing January 1, 2027.
“the Company and the Wit Trust entered into an Second Amendment to Secured Convertible Promissory Note originally signed October 21, 2021, which was then amended and restated March 9, 2022, pursuant to which the Company and the Wit Trust amended the Secured Convertible Credit Line Promissory Note in order to extended the maturity date of the Secured Convertible Credit Line Promissory Note from October 1, 2024 to January 1, 2027.”
Veritas Farms, Inc. incurred convertible notes of up to $3,000,000 with Cornelis F. Wit Revocable Living Trust at 10% per annum maturing January 01, 2027.
“On December 31, 2023, Veritas Farms, Inc. (the “Company”) issued a secured convertible credit line promissory note in the principal amount for up to $3,000,000 (the “December 2023 Secured Convertible Promissory Note”), to the Cornelis F. Wit Revocable Living Trust”
AMERICAN REBEL HOLDINGS INC incurred loan of $75,000 with existing accredited investor lender at 12% per annum maturing on or before March 31, 2024.
“On January 1, 2024, the Registrant entered into a new loan agreement with an existing accredited investor lender who was owed $150,000 under a previous loan due December 31, 2023. The Registrant repaid the lender $75,000 due under the previous loan and under the new loan agreement has agreed to pay the lender the remaining $75,000 on or before March 31, 2024. The principal balance bears interest at 12% per annum.”
Odyssey Health, Inc. amended convertible notes of sixty thousand ($60,000) with LGH Investments, LLC maturing June 30, 2024.
“On December 30, 2023, the Company entered into Amendment No. 7 to the Convertible Promissory Note (the “Amendment”) to the Securities Purchase Agreement dated April 5, 2021, with LGH Investments, LLC (“LGH”). Pursuant to the Amendment, the parties have agreed to extend the maturity date of the note to June 30, 2024. As consideration, sixty thousand ($60,000) shall be added to the principal amount outstanding.”
Kimball Electronics, Inc. amended revolving credit of $100 million maturing January 3, 2025.
“the first amendment (1) increases the borrowing limit to $100 million from $50 million and (2) changes the maturity date from February 2, 2024 to January 3, 2025.”
Orgenesis Inc. amended loan of aggregate principal amount of $331,099 with Aharon Lukach at ranging from 0% to 8% per annum (compounding commencing January 1, 2024) maturing December 31, 2024.
“the maturity date of the loans under their respective loan agreements (as described below) to December 31, 2024. The aggregate principal amount of the loans outstanding is $331,099 with interest rates ranging from 0% to 8% per annum (based on a 365-day year) and which were payable, along with the principal, on or before January 1, 2024. In consideration”
Orgenesis Inc. amended convertible notes of aggregate principal amount of $771,484 with Yehuda Nir at 8% per annum (compounding commencing January 1, 2024) maturing December 31, 2026.
“the convertible loans under their respective loan agreements (as described below) to December 31, 2026. The aggregate principal amount of the convertible loans outstanding was $771,484 with interest rates of 8% per annum (based on a 365-day year) and which were payable, along with the principal, on or before January 1, 2024. In consideration for the extensions,”
DZS INC. incurred loan of $15,000,000 with EdgeCo, LLC at 13.0% per annum maturing December 29, 2026.
“the Company received a three-year term loan in an aggregate principal amount equal to $15,000,000 (the “Loan”). The principal amount of the Loan is payable on December 29, 2026 and bears interest at a fixed rate of 13.0% per annum.”
NovAccess Global Inc. incurred loan of $29,444 with AJB Capital Investments, LLC at interest at 10% per annum.
“Pursuant to the December 29, 2023 letter agreement, AJB agreed to loan us an additional $29,444, which will be added to the principal of the February 2022 note. This $29,444 loan has an original interest discount of 10% and bears interest at 10% per annum.”
Outdoor Holding Co incurred revolving credit of $20,000,000 with Sunflower Bank, N.A., as administrative agent and collateral agent at Term SOFR, plus 3.00% maturing December 29, 2026.
“given to such terms in the Agreement Under the terms of the Agreement, the Lenders have provided to the Borrower a revolving loan in the principal amount of the lesser of (a) $20,000,000 (the “Total Commitment Amount”) and (b)the Borrowing Base (a formula based on certain amounts owed to Borrower for goods sold or services provided and eligible inventory (the”
CREDIT ACCEPTANCE CORP amended revolving credit of $300.0 million with Bank of Montreal maturing December 29, 2026.
“The Warehouse Amendment extends the date on which our $300.0 million revolving secured warehouse facility will cease to revolve from May 20, 2025 to December 29, 2026.”
INTRUSION INC incurred loan of $1,080,000 with Anthony Scott at 7.0% per annum, compounded daily maturing June 15, 2024.
“On January 2, 2024, Intrusion Inc. (the “Company”) entered into an invoice financing arrangement pursuant to a note purchase agreement with Anthony Scott, President and Chief Executive Officer of the Company (“Scott”), according to which, among other things, Scott purchased from the Company a promissory note (the “Note”) in the aggregate principal amount of $1,080,000 in exchange for $1.0 million to the Company.”
1st FRANKLIN FINANCIAL CORP amended credit facility with Wells Fargo Bank, N.A..
“On December 27, 2023, 1 st Franklin Financial Corporation (the “Company”) entered into a Sixth Amendment (the “Sixth Amendment”) to the Amended and Restated Loan and Security Agreement dated as of November 19, 2019”
Bain Capital Private Credit incurred credit facility of $50,000,000 with Sumitomo Mitsui Banking Corporation at 2.125% per annum maturing December 29, 2028.
“of December 29, 2023. Capitalized terms used but not defined herein shall have the meanings set forth in the Credit Agreement. The facility amount under the Credit Agreement is $50,000,000 with an accordion provision to permit increases to the total facility amount up to $500,000,000. Proceeds of the loans under the Credit Agreement may be used for general corporate”
VIP Play, Inc. incurred credit facility of principal amount of not more than $2,000,000 with Excel Family Partners, LLLP at fixed rate per annum equal to 15.0% maturing upon demand.
“On December 29, 2023, KeyStar Corp., a Nevada corporation (the “ Company, ” “ we ” or “ our ”), entered into a Fifth Amended and Restated Discretionary Non-Revolving Line Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (“ Excel ”) in the principal amount of not more than $2,000,000 (the “ Note ”).”
Onfolio Holdings, Inc incurred loan of $440,000 with RevenueZen at 11% maturing December 31, 2025.
“and a $440,000 11% interest only secured promissory note made by RevenueZen Delaware due December 31, 2025 (the “ Promissory Note ”).”
Rocket Lab Corp incurred credit facility of up to $120,000,000 with Trinity Capital, Inc. at rate factor of 0.022266 or 0.026306, subject to adjustment based on Prime Rate maturing 60 months.
“On December 29, 2023 (the “Effective Date”), Rocket Lab USA, Inc. (the “Company”) and certain of its subsidiaries (the “Subsidiaries”, together with the Company, the “Borrowers”), entered into a Master Equipment Financing Agreement (the “Loan Agreement”) with Trinity Capital, Inc., a Maryland corporation (the “Lender”) to provide financing for certain equipment and other property (the “Equipment”). The Loan Agreement provides that the Lender shall provide equipment financing in the aggregate of up to $120,000,000 (the “Conditional Commitment")”
XBiotech Inc. incurred loan of $10 million with John Simard at eight percent per year.
“On January 3, 2024, XBiotech Inc. (“XBiotech” or the “Company”) entered into a Convertible Loan Agreement (the “Loan”) with John Simard, the Company’s Founder, President, Chief Executive Officer and Chairman. The Loan provides $10 million in immediate funding for the construction of a new, state-of-the-art research and development facility at 5217 Winnebago Lane in Austin, Texas. The Loan is secured by the real estate and cash holdings of the Company, with interest to accrue at a simple rate equal to eight percent per year and interest-only payments to be made at six-month intervals after the Loan is funded.”
Senseonics Holdings, Inc. incurred term loan of $10.0 million with Hercules Capital, Inc..
“On January 2, 2024, the Tranche 2 Loan was funded in an amount of $10.0 million following the Company’s satisfaction of certain terms and conditions set forth in the Loan Agreement in the fourth quarter of 2023.”
KBS Real Estate Investment Trust III, Inc. reported a default on loan of $125.0 million with 201 Spear Street Lender at 5.0% plus the greater of (a) one-month term SOFR plus 1.45% or (b) the Prime Rat.
“payment, resulting in an event of default on the loan on November 14, 2023. The 201 Spear Street property is currently valued at substantially less than the outstanding debt of $125.0 million. As of November 15, 2023, interest on the loan began to accrue at the default interest rate of the lesser of (i) the maximum rate allowed by law or (ii) 5.0% plus the greater of”
KBS Real Estate Investment Trust III, Inc. incurred credit facility of $5.0 million with Bank of America, N.A., as administrative agent maturing February 6, 2024.
“In addition, the Third Extension Agreement required that the Amended and Restated Portfolio Loan Facility Borrowers make a principal paydown on the loan in the amount of $5.0 million, and the aggregate commitment under the Amended and Restated Portfolio Loan Facility was permanently reduced by that amount. The aggregate outstanding principal balance of the”
Global Water Resources, Inc. incurred senior notes of $20,000,000 of 6.91% Senior Secured Notes with U.S. Bank Trust Company, National Association at 6.91% maturing January 3, 2034.
“2023, Global Water Resources, Inc. (the “Company”) entered into a note purchase agreement (the “Note Purchase Agreement”) for the issuance of an aggregate principal amount of $20,000,000 of 6.91% Senior Secured Notes due on January 3, 2034 (the “Notes”). Pursuant to the terms of the Note Purchase Agreement, the Company issued the Notes on January 3, 2024. In”
VSE CORP amended credit facility of from $177.5 million to $300.0 million with Citizens Bank, N.A. maturing October 7, 2026.
“an increase in the aggregate principal amount of the term loan (“Term loan”) from $177.5 million to $300.0 million and an extension of the maturity date of the Company’s Term Loan by one year to October 7, 2026”
Aquaron Acquisition Corp. incurred loan of $70,000 with Bestpath IoT Technology Ltd. at does not bear interest maturing upon closing of a business combination by the Company.
“On January 3, 2024, Aquaron Acquisition Corp. (the “ Company ”) issued an unsecured promissory note in the aggregate principal amount of $70,000 (the “ Note ”) to Bestpath IoT Technology Ltd. (“ Bestpath ”) in exchange for Bestpath depositing such amount into the Company’s trust account in order to extend the amount of time it has available to complete a business combination. The Note does not bear interest and mature upon closing of a business combination by the Company.”
AERWINS Technologies Inc. faced acceleration on convertible notes of $4,200,000 with Lind Global Fund II LP.
“The proceedings in Japan described in Item 1.03 above constitute an event of default pursuant to the secured convertible notes in the aggregate principal amount of $4,200,000 (collectively, the "Notes") issued by the Company to Lind Global Fund II LP ("Lind Global") on April 12, 2023 and May 23, 2023 and as amended on August 25, 2023.”
Learn CW Investment Corp incurred loan of up to $2,487,000 with CWAM LC Sponsor LLC at does not bear interest maturing upon the consummation of a Business Combination.
“On December 29, 2023, Learn CW Investment Corporation (the “Company”) issued an amended and restated promissory note (the “Restated Note”) in the principal amount of up to $2,487,000 to CWAM LC Sponsor LLC, the Company’s sponsor (“Sponsor”).”
Ace Global Business Acquisition Ltd incurred loan of $98,858.95 with Ace Global Investment Limited at does not bear interest maturing upon the closing of a business combination by the Company.
“On January 2, 2024, Ace Global Business Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $98,858.95 (the “Note”) to Ace Global Investment Limited, the Company’s initial public offering sponsor (“Sponsor”)”
Serve Robotics Inc. /DE/ incurred loan of up to $200,000 with Ali Kashani at 7.67% per annum.
“On December 27, 2023, Serve Operating Co., a wholly-owned subsidiary of Serve Robotics Inc., a Delaware corporation (the “Company”), issued a Secured Subordinated Promissory Note (the “Kashani Note”) to Ali Kashani, a holder of greater than 5% of the Company’s capital stock who serves as Chief Executive Officer and is a member of the Company’s Board of Directors (the “Board”), in exchange for a loan with the aggregate principal amount of up to $200,000.”
Serve Robotics Inc. /DE/ incurred convertible notes of $3,000,000 with certain accredited investors at 6.00% per year maturing due and payable upon request by each Purchaser on or after the 12-month anniversary of the original issuance date of each Note.
“At an initial closing on January 2, 2024, the Company borrowed an aggregate principal amount of $3,000,000 by issuing Notes to certain accredited investors”
AMERICAN REBEL HOLDINGS INC incurred loan of $500,000 with Alt Banq Inc. at 22% per annum maturing 52 weekly payments.
“On December 28, 2023, the Registrant entered into a $500,000 Business Loan and Security Agreement (the “Secured Loan”) with Alt Banq Inc., an accredited investor lending source (the “Lender”). Under the Secured Loan, the Registrant received $490,000 on December 29, 2023, which was net of fees to the Lender. The Secured Loan requires 52 weekly payments of $11,731, for a total repayment of $610,000 to the Lender. The principal balance bears interest at 22% per annum.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.