---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-078774"
form_type: "8-K"
ticker: "AENT"
cik: "0001823584"
company_name: "ALLIANCE ENTERTAINMENT HOLDING CORP"
filed_at: "2023-07-06T23:59:59+00:00"
generated_at: "2026-06-13T12:06:41.609822+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Alliance Entertainment closes $4M public offering and secures $17M credit line from chairman

## Summary
- Alliance Entertainment closed public offering of 1,335,000 shares at $3.00/share for $4M gross proceeds; underwriter has 45-day option for 200,250 additional shares.
- Proceeds to be used for working capital and general corporate purposes, including paying accounts payable from initial business combination.
- Executive Chairman Bruce Ogilvie provided up to $17M line of credit at BSBY+3% to address $10M reserve and fund holiday inventory; expected repayment by July 31, 2023.
- Class A common stock and warrants began trading on Nasdaq Capital Market on June 30, 2023 under symbols AENT and AENTW, upgraded from OTC.
- Underwriter received warrants for 50,090 shares at $3.75; lock-up agreements for existing stockholders and directors for 90 days.

## SEC filing metadata
- accession: 0001104659-23-078774
- form_type: 8-K
- ticker: AENT
- cik: 0001823584
- company_name: ALLIANCE ENTERTAINMENT HOLDING CORP
- filed_at: 2023-07-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823584/000110465923078774/0001104659-23-078774-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823584/000110465923078774/tm2320692d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-078774
- JSON: https://secwatch.observer/filing/0001104659-23-078774.json
- Plain text: https://secwatch.observer/filing/0001104659-23-078774.txt

## Key facts
- Debt Financings
  ALLIANCE ENTERTAINMENT HOLDING CORP incurred credit facility of $17 million with Bruce Ogilvie at Bloomberg Overnight Short Term Bank Yield Index (BSBY) rate plus 3% per annum maturing expected to be repaid from cash flow on or prior to July 31, 2023.
  - Instrument: credit facility
  - Principal: $17 million
  - Counterparty: Bruce Ogilvie
  - Rate: Bloomberg Overnight Short Term Bank Yield Index (BSBY) rate plus 3% per annum
  - Maturity: expected to be repaid from cash flow on or prior to July 31, 2023
  - Event: incurrence
  source text: On July 3, 2023, Bruce Ogilvie, the Company’s Executive Chairman, extended a line of credit in an amount of up to $17 million to the Company (the “Loan”). The purpose of the Loan is to address a $10 million availability reserve imposed on the Company’s existing credit facility by the lenders and to fund product investments for the upcoming holiday season. The Loan has no specified terms, but is expected to be repaid from cash flow on or prior to July 31, 2023. The Company has agreed to pay interest on the Loan at a rate equal to the Bloomberg Overnight Short Term Bank Yield Index (BSBY) rate plus 3% per annum, with interest calculated on a daily basis.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823584/000110465923078774/0001104659-23-078774-index.htm
- Material Agreements
  ALLIANCE ENTERTAINMENT HOLDING CORP entered into Underwriting Agreement with ThinkEquity LLC valued at $4,005,000 (effective 2023-06-29).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: ThinkEquity LLC
  - Value: $4,005,000
  - Effective: 2023-06-29
  source text: On July 5, 2023, Alliance Entertainment Holding Corporation (the “Company”) sold an aggregate of 1,335,000 shares of the Company’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”) at a public offering price to the public of $3.00 per share (the “Offering”), pursuant to an Underwriting Agreement, dated as of June 29, 2023 (the “Underwriting Agreement”), by and between the Company and ThinkEquity LLC (the “Representative” or “ThinkEquity”), as representative of the underwriters of the Offering (the “Underwriters”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823584/000110465923078774/0001104659-23-078774-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.