Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Legacy IMBDS, Inc. incurred convertible notes of $3,500,000 at 7.75% per annum, increasing to 15% per annum effective January 1, 2024 maturing December 31, 2023.
- Instrument
- convertible notes
- Principal
- $3,500,000
- Rate
- 7.75% per annum, increasing to 15% per annum effective January 1, 2024
- Maturity
- December 31, 2023
- Event
- incurrence
Exact text from the filing
entered into a Loan Agreement (the “Loan Agreement”) with certain individuals and entities (each an “Investor”), for the purchase and sale of unsecured convertible promissory notes (the “Notes”) in the original aggregate principal amount of $3,500,000
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
Legacy IMBDS, Inc. reported fourth fiscal quarter and fiscal year ended January 28, 2023 results: revenue $134 million.
- Period
- fourth fiscal quarter and fiscal year ended January 28, 2023
- Revenue
- $134 million
- Result
- reported results
Exact text from the filing
Q4 Net Sales were $134 million, which was a $60 million, or 31%, decrease compared to the same prior year period.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Legacy IMBDS, Inc. amended Forbearance Agreement, Tenth Amendment to Loan and Security Agreement and Amendment to Fee Letter with Siena Lending Group LLC and the other financial institutions party thereto (effective 2023-04-10).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Siena Lending Group LLC and the other financial institutions party thereto
- Effective
- 2023-04-10
Exact text from the filing
On April 10, 2023, The Company entered into a Forbearance Agreement, Tenth Amendment to Loan and Security Agreement and Amendment to Fee Letter (the “Amendment”), which amends the Loan and Security Agreement dated July 30, 2021 (as amended, the “Loan and Security Agreement”), by and among the Company, as the lead borrower, certain of its subsidiaries party thereto as borrowers, Siena Lending Group LLC and the other financial institutions party thereto from time to time as lenders, Siena Lending Group LLC, as agent, and certain additional subsidiaries of the Company, as guarantors thereunder.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Legacy IMBDS, Inc. entered into Loan Agreement with certain individuals and entities (each an “Investor”) valued at $3,500,000 (effective 2023-04-10).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- certain individuals and entities (each an “Investor”)
- Value
- $3,500,000
- Effective
- 2023-04-10
Exact text from the filing
On April 10, 2023, iMedia Brands, Inc. (“we”, “us”, “our”, or the “Company”) entered into a Loan Agreement (the “Loan Agreement”) with certain individuals and entities (each an “Investor”), for the purchase and sale of unsecured convertible promissory notes (the “Notes”) in the original aggregate principal amount of $3,500,000
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