Debt Financings

PORTSMOUTH SQUARE INC reported a default on loan of $97 million with various institutional lenders.

“On January 4, 2024, Portsmouth Square, Inc. (the “Issuer”or the “Company”) was made aware of a notice of default (the “Notice”) issued to Justice Operating Company, LLC, which is the wholly owned subsidiary of Portsmouth Square, Inc. (“Justice”) and received by Justice as of that date. The Notice states that the $97 million principal amount in loans made to Justice by various institutional lenders, known as Loan No.: M300801016 / Reference No.: SS57524 and Loan No.: M300801015 / Reference No.: SS57523, are in default.”

ACURA PHARMACEUTICALS, INC incurred loan of $250,000 with Abuse Deterrant Pharma, LLC at 5.25% maturing March 31, 2024.

“we received a $250,000 loan from Abuse Deterrent Pharma, LLC (“AD Pharma”). This loan combined with previous loans”

INTERGROUP CORP reported a default on loan of $97 million principal amount with various institutional lenders.

“On January 4, 2024, The InterGroup Corporation (the "Issuer" or the "Company") was made aware of a notice of default (the "Notice") issued to Justice Operating Company, LLC, which is the wholly owned subsidiary of Portsmouth Square, Inc. ("Justice") and received by Justice as of that date. The Notice states that the $97 million principal amount in loans made to Justice by various institutional lenders, known as Loan No.: M300801016 / Reference No.: SS57524 and Loan No.: M300801015 / Reference No.: SS57523, are in default.”

Nova Vision Acquisition Corp incurred loan of aggregate principal amount of $69,763.37 with Nova Pulsar Holdings Limited maturing matures upon the closing of a business combination by the Company.

“On January 6, 2024, Nova Vision Acquisition Corp. (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $69,763.37 (the “Note”) to Nova Pulsar Holdings Limited, the Company’s initial public offering sponsor (“Sponsor”) in exchange for Sponsor 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.”

OLENOX INDUSTRIES INC. incurred loan of purchase price of $200,000 with Maison Capital Group.

“On January 5, 2024, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), and the Company’s wholly owned subsidiary, SG Echo, LLC (“SG Echo”, and together with SG Building Blocks, the “Merchants”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Maison Capital Group (“Maison”) pursuant to which the Merchants sold to Maison $300,000 of their future receivables for a purchase price of $200,000, less underwriting fees and expenses paid, for net funds provided of $190,000.”

Lakeshore Acquisition II Corp. incurred loan of $20,000 with Nature's Miracle at does not bear interest maturing earlier of (i) the closing of the Company's initial business combination and (ii) March 11, 2024.

“On January 8, 2024, Lakeshore Acquisition II Corp., a Cayman Islands exempted company (the "Company" or "Lakeshore") issued an unsecured promissory note dated January 8, 2024, in the aggregate principal amount of $20,000 (the "Note") to Nature's Miracle, the counterparty to the previously announced Merger Agreement”

Frontier Investment Corp incurred loan of $200,000 with Frontier Disruption Capital (Sponsor) at does not bear interest maturing upon consummation of a business combination.

“On January 3, 2024, Frontier Investment Corp (the “ Company ”) issued one unsecured promissory note (the “ Note ”) in an amount of $200,000, to Frontier Disruption Capital (“ Sponsor ”), for working capital. The Note does not bear interest and matures at such time the Company consummates a business combination.”

iLearningEngines, Inc. incurred loan of aggregate of $160,000 with Arrowroot Acquisition LLC at does not bear interest maturing matures upon closing of the Company’s initial business combination.

“The board of directors of Arrowroot Acquisition Corp., a Delaware corporation (the “ Company ”), approved a draw of an aggregate of $160,000 (the “ Extension Funds ”) pursuant to the Promissory Note, dated as of March 6, 2023 (the “ Note ”), between the Company and Arrowroot Acquisition LLC (the “ Lender ”), which Extension Funds were deposited into the Company’s trust account for its public stockholders on January 5, 2024.”

CLS Holdings USA, Inc. incurred senior notes of $930,000 original principal amount at 16% annually maturing July 8, 2025.

“On January 2, 2024, CLS Holdings USA, Inc. (the "Company") completed a private placement of $930,000 original principal amount of Secured Promissory Notes.”

BREAD FINANCIAL HOLDINGS, INC. faced acceleration on senior notes of $400 million aggregate principal amount with U.S. Bank Trust Company, National Association at 7.000% maturing due 2026.

“On January 8, 2024, Bread Financial Holdings, Inc. (the “Company”) issued a conditional notice of redemption to redeem $400 million aggregate principal amount of its outstanding 2026 Notes.”

TAKE TWO INTERACTIVE SOFTWARE INC incurred senior notes of $350 million aggregate principal amount of its senior notes, consisting of $50 million additional principal amount of it with The Bank of New York Mellon at 5.000% per annum for 2026 Notes; 4.950% per annum for 2028 Notes maturing March 28, 2026 for 2026 Notes; March 28, 2028 for 2028 Notes.

“On January 8, 2024, Take-Two Interactive Software, Inc. (the “Company”) completed its add-on offering and sale of $350 million aggregate principal amount of its senior notes, consisting of $50 million additional principal amount of its 5.000% Senior Notes due 2026 (the “2026 Notes”) and $300 million additional principal amount of its 4.950% Senior Notes due 2028 (the “2028 Notes”).”

ABEONA THERAPEUTICS INC. incurred term loan of $20 million with Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P. at greater of (i) the prime rate, as published by the Wall Street Journal from time maturing July 1, 2027.

“and the Lenders. The Loan Agreement provides for senior secured term loans (the “ Loans ”) in an aggregate principal amount up to $50 million, with (i) a committed tranche of $20 million advanced on the Closing Date (“ Tranche 1 ”), (ii) a committed tranche of up to $10 million which may be advanced upon the request of the Company between June 30, 2024 and”

dMY Squared Technology Group, Inc. incurred convertible notes of $1,750,000 with Harry L. You at no interest maturing earlier of: (i) the date on which Maker consummates an initial business combination and (ii) the date of the liquidation of Maker.

“In connection with the Contribution, on January 2, 2024, the Company issued an unsecured convertible promissory note to Harry L. You, Chairman and Chief Financial Officer of the Company and an affiliate of the Sponsor (the “ Payee ”) with a principal amount up to $1,750,000 (the “ Note ”). The Note bears no interest and is repayable on the earlier of: (i) the date on which Maker consummates an initial business combination and (ii) the date of the liquidation of Maker.”

Fortune Rise Acquisition Corp incurred loan of $100,000 with Water On Demand, Inc. at non-interest bearing maturing on the earlier of (i) consummation of the Company's initial business combination and (ii) the date of the liquidation of the Company.

“ompany issued an unsecured promissory note (the “ Note ”) to Water On Demand, Inc., a Nevada corporation and the entity which controls the Company’s sponsor.”

First Watch Restaurant Group, Inc. incurred term loan of $125 million with Bank of America, N.A. at base rate plus an additional margin that ranges between 150 basis points and 225 maturing 2029-01-05.

“a new $125 million incremental delayed draw term loan facility (the "2024 Incremental Delayed Draw Term Facility" and the loans thereunder, the "2024 Incremental Delayed Draw Term Loans") was established”

First Watch Restaurant Group, Inc. amended revolving credit of $125 million with Bank of America, N.A. at base rate plus an additional margin that ranges between 150 basis points and 225 maturing 2029-01-05.

“the replacement revolving credit facility was increased by $50 million in new revolving credit commitments bringing the aggregate committed amount under the new revolving credit facility to $125 million (the "2024 Revolving Facility")”

NextDecade Corp incurred credit facility of up to $50,000,000 revolving loan facility and up to $12,500,000 interest loan facility with MUFG Bank, Ltd. at SOFR plus the applicable margin (4.50%) or the base rate plus the applicable mar maturing the earlier of (a) the second anniversary of the Closing Date or such later anniversary of the Closing Date as may be determined by a unanimous decision of the.

“institutions party thereto as lenders. The Credit Agreement provides for the following facilities: ● a revolving loan facility (the “ Revolving Loans ”) in an amount up to $50,000,000 available to NextDecade LNG to be used for (a) general corporate purposes and working capital requirements of NextDecade LNG and its subsidiaries, including development costs”

ATHERSYS, INC / NEW incurred credit facility of $2,250,000 with DIP Lender.

“the Debtors entered into a certain Secured Superpriority Debtor-in-Possession Financing Agreement (the “DIP Financing Agreement”) with the DIP Lender. If approved by the Court as proposed, the DIP Financing Agreement would provide term loans in an aggregate amount not to exceed $2,250,000 consisting of (i) a term loan not to exceed $850,000 to be available upon the entry by the Court of an order approving the DIP Financing Agreement on an interim basis, (ii) a term loan not to exceed $650,000 to be available upon the entry by the Court of an order approving the DIP Financing Agreement on a final basis, and (iii) 750,000 to be available on or promptly after February 16, 2024.”

AtriCure, Inc. incurred credit facility of up to $125 million (with potential increase up to $165 million) with JPMorgan Chase Bank, N.A., Silicon Valley Bank, a Division of First-Citizen Bank & Trust Company at ABR plus applicable margin or adjusted term SOFR rate plus applicable margin maturing three-year.

“On January 5, 2024 (the “ Closing Date ”), AtriCure, Inc. (the “ Company ”) and its wholly owned subsidiary, AtriCure, LLC (together with the Company, the “ Borrowers ”), entered into an asset-based credit agreement (the “ Credit Agreement ”) among the Borrowers, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “ Administrative Agent ”), JPMorgan Chase Bank, N.A. (“JPMCB”) and Silicon Valley Bank, a Division of First-Citizen Bank & Trust Company (“SVB”), as Joint Lead Arrangers and Joint Bookrunners, and the lenders party thereto (“Lenders”). The Credit Agreement provides for an asset-based three-year revolving credit facility (the “ ABL Facility ”) in an amount of up to $125 million.”

Clean Energy Technologies, Inc. incurred convertible notes of $143,750.00 with FirstFire Global Opportunities Fund, LLC at 10% per annum maturing January 3, 2025.

“the Company agreed to issue and sell to the Buyer the promissory note of the Company in the principal amount of $143,750.00”

HUMANIGEN, INC incurred credit facility of up to $2 million with Taran maturing five (5) months after the Petition Date.

“Taran agreed to provide debtor in possession financing to the Company (the "DIP Loan"), pursuant to which, and subject to the satisfaction of the applicable conditions precedent contained therein, including the entry by the Bankruptcy Court of an appropriate order relating to the same (the "Interim DIP Order"), Taran would provide the Company with a DIP Loan in an aggregate principal amount of up to $2 million.”

AUDACY, INC. faced acceleration on senior notes.

“The commencement of the Chapter 11 Cases described in Item 1.03 of this current report on Form 8-K constitutes an event of default that accelerated the Debtors’ respective obligations under the following debt instruments”

AUDACY, INC. faced acceleration on credit facility.

“The commencement of the Chapter 11 Cases described in Item 1.03 of this current report on Form 8-K constitutes an event of default that accelerated the Debtors’ respective obligations under the following debt instruments”

ROCKWELL MEDICAL, INC. amended credit facility of $8.0 million with Innovatus Life Sciences Lending Fund I, LP at the greater of (i) Prime Rate and (ii) 7.50%, plus 3.50% maturing fifth anniversary of the Effective Date.

“for the continuation of term loans initially borrowed on or after the Original Effective Date, in an aggregate outstanding principal amount as of the Effective Date of $8.0 million (the “Term Loans”). The Company will make interest-only payments on the Term Loans for thirty months, or up to thirty-six months if certain conditions are met. The Term Loans”

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”