secwatch.observer — SEC 8-K summary
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Issuer:     AUDIOEYE INC (AEYE)
CIK:        0001362190
Form:       8-K
Filed at:   2023-11-30T23:59:59+00:00
Accession:  0001104659-23-122468
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AudioEye enters $7M term loan and authorizes $5M share repurchase program
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- $7.0M term loan from SG Credit Partners; 36-month maturity, no amortization, interest at 6.25% over base (prime or 7% floor).
- Loan proceeds may fund up to $3M in stock repurchases, BOIA earnout, working capital; secured by first-priority lien on all assets.
- Board approved $5M share repurchase program expiring Dec 31, 2025; repurchases may be in open market or private transactions.
- Minimum liquidity covenant: at least $2.0M monthly; minimum monthly recurring revenue covenant starting at $2.3M and increasing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1362190/000110465923122468/0001104659-23-122468-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1362190/000110465923122468/tm2331818d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-122468

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