Direct Digital Holdings repays $404K debt and terminates credit agreement with East West Bank

Direct Digital Holdings, Inc.

Repaid ~$403,696 in principal, interest, and fees to East West Bank; no prepayment penalties incurred.
Terminated the Credit Agreement dated Sept 30, 2020, along with related Revolving Credit Note and Preferred Equity Subordination Agreement.
All outstanding debt obligations under the Credit Agreement have been fully satisfied.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Direct Digital Holdings, Inc. terminated Credit Agreement with East West Bank valued at approximately $403,696.28 (effective 2022-07-26).

Action: termination
Agreement: credit facility
Counterparty: East West Bank
Value: approximately $403,696.28
Effective: 2022-07-26

Exact text from the filing

On July 26, 2022, Direct Digital Holdings, Inc. (the “ Company ”) terminated its Credit Agreement, dated as of September 30, 2020 (as amended, the “ Credit Agreement ”), by and among the Company, Colossus Media, LLC, Huddled Masses LLC, Orange142, LLC, Universal Standards for Digital Marketing, LLC, and East West Bank (“ EWB ”), after having repaid in full all indebtedness under the Credit Agreement.

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Source: SEC EDGAR

accession 0001104659-22-114434

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