secwatch.observer — SEC 8-K summary
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Issuer:     Bright Mountain Media, Inc. (BMTM)
CIK:        0001568385
Form:       8-K
Filed at:   2025-04-04T23:59:59+00:00
Accession:  0000950170-25-051145
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Bright Mountain Media extends credit facility maturity to Dec 2026, amends rates and amortization
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- Maturity extended from April 20, 2026 to December 20, 2026 for First Out, Second Out, and Third Out Loans.
- First Out cash interest rate changed to Term SOFR + 2%; Second Out cash rate 2% plus PIK at Term SOFR + 3%.
- Third Out Loans PIK rate set at 15%; First Out amortization: $700k on Mar 31, 2025, then $575k quarterly.
- Second Out amortization: quarterly 1% of principal in 2025, then 2% thereafter until maturity.
- Outstanding principal on Centre Lane credit facility $79.7 million as of March 31, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568385/000095017025051145/0000950170-25-051145-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568385/000095017025051145/bmtm-20250331.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-051145

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