secwatch.observer — SEC 8-K summary
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Issuer:     Loop Media, Inc. (—)
CIK:        0001643988
Form:       8-K
Filed at:   2023-11-17T23:59:59+00:00
Accession:  0001104659-23-119504
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Loop Media amends $2.2M line of credit: maturity extended to Aug 2024, warrants repriced to $1.00
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- Line of credit maturity extended from Nov 13, 2023 to Aug 13, 2024 (27 months from May 13, 2022).
- One-time payment of $374k on Nov 13, 2023 ($132k accrued interest, $220k principal, $22k extension fee), then nine monthly $220k principal payments plus interest.
- Warrant exercise price for 209,522 LOC warrants and 104,759 subordination warrants reduced from $5.25 to $1.00 per share.
- Lenders agreed to 12-month lock-up on shares from warrant exercise; one-third of net proceeds from future non-ATM, non-affiliate capital raises applied to principal.
- The amendment affects $2.2M non-revolving credit line; original note was amended and restated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1643988/000110465923119504/0001104659-23-119504-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1643988/000110465923119504/tm2330983d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-119504

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