secwatch.observer — SEC 8-K summary
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Issuer:     ALLIANCE ENTERTAINMENT HOLDING CORP (AENT)
CIK:        0001823584
Form:       8-K
Filed at:   2023-07-06T23:59:59+00:00
Accession:  0001104659-23-078774
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823584/000110465923078774/0001104659-23-078774-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823584/000110465923078774/tm2320692d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-078774

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