secwatch.observer — SEC 8-K summary
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Issuer:     MANNATECH INC (MTEX)
CIK:        0001056358
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0001056358-24-000038
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mannatech borrows $3.6M from directors at 16% interest for working capital
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- Three unsecured promissory notes with directors J. Stanley Fredrick ($2.5M), Tyler Rameson/Jade Capital ($1.0M), and Kevin Robbins ($100K).
- 16% annual interest, quarterly payments starting June 30, 2024; principal due Sept 30, 2026.
- Proceeds for general working capital, international expansion, and technology/software upgrades.
- Fairness opinion from third party received April 15, 2024; loans prepayable without penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1056358/000105635824000038/0001056358-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1056358/000105635824000038/mtex-20240423.htm
  HTML page:      https://secwatch.observer/filing/0001056358-24-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer