secwatch.observer — SEC 8-K summary
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Issuer:     Neptune Wellness Solutions Inc. (—)
CIK:        0001401395
Form:       8-K/A
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0000950170-23-020145
Event type: debt
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neptune Wellness subsidiary Sprout secures $7.5M inventory financing facility
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- Sprout Foods entered amendment on April 21, 2023, increasing maximum credit to $7.5M from $5M.
- New inventory finance rider added to existing accounts receivable factoring facility.
- Advances up to 50% of eligible inventory (lower of cost/market) or 75% of net orderly liquidation value.
- Interest rate prime plus 1% with an 8% minimum; 12-month initial term with auto-renewal.
- Inventory line provides working capital for product expansion and supply chain efficiency.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401395/000095017023020145/0000950170-23-020145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401395/000095017023020145/nept-20230123.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-020145

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