secwatch.observer — SEC 8-K summary
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Issuer:     Inuvo, Inc. (INUV)
CIK:        0000829323
Form:       8-K
Filed at:   2023-03-07T23:59:59+00:00
Accession:  0000829323-23-000004
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inuvo amends credit facility; $5M line of credit at prime+1.75%
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- Borrowing base set at 80% of eligible accounts receivable; may increase to 85% if trailing 12-month dilution under 7%.
- Interest rate is WSJ Prime plus 1.75%; annual commitment fee of $10,000; quarterly unused line fee of 0.20%.
- Exit fee of $50,000 if repaid before Feb 28, 2024; $25,000 if repaid before Feb 28, 2025.
- Tangible net worth covenant: minimum $150,000 through Dec 31, 2023, then increases $150,000 per quarter.
- Amendment fee of $10,000 and documentation fee of $500 paid to Mitsubishi HC Capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/829323/000082932323000004/0000829323-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/829323/000082932323000004/inuv-20230307.htm
  HTML page:      https://secwatch.observer/filing/0000829323-23-000004

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