Nemaura Medical Inc.: debt financing — Nemaura Medical secures $10M credit facility with Streeterville Capital, non-dilutive funding for growth

Nemaura Medical Inc.

Line of credit facility for up to $10M from Streeterville Capital; maximum draw of $1M per month.
Monitoring fee of 0.8333% per month on outstanding draws; 20% original issue discount added per draw.
Facility secured by all assets of Nemaura, Dermal Diagnostics, and Trial Clinic.
Management states structure minimizes dilution compared to equity sales, supporting commercialization.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Nemaura Medical Inc. incurred credit facility of $10,000,000 with Streeterville Capital, LLC at 0.8333% per month maturing one year from the execution date of the LOC Agreement.

Instrument: credit facility
Principal: $10,000,000
Counterparty: Streeterville Capital, LLC
Rate: 0.8333% per month
Maturity: one year from the execution date of the LOC Agreement
Event: incurrence

Exact text from the filing

credit (the “Line of Credit”) to the Borrower and to make advances to the Borrower from time to time, which amounts will not exceed at any time the aggregate principal amount of $10,000,000 (the “Maximum Loan Amount”), unless Streeterville agrees, in its sole discretion, to extend additional amounts of credit under the LOC Agreement. Subject to the terms and

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Source: SEC EDGAR

accession 0001079973-23-001636

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