Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Research Solutions, Inc. incurred revolving credit of $500,000 with PNC Bank, National Association at daily SOFR rate plus 2.5% maturing April 15, 2025.
- Instrument
- revolving credit
- Principal
- $500,000
- Counterparty
- PNC Bank, National Association
- Rate
- daily SOFR rate plus 2.5%
- Maturity
- April 15, 2025
- Event
- incurrence
Exact text from the filing
the Borrowers entered into a Revolving Line of Credit Note (the “ PNC Note ”) with PNC, which provides for a $500,000 secured revolving line of credit that matures on April 15, 2025 and bears interest annually at the daily SOFR rate plus 2.5%
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Research Solutions, Inc. entered into PNC Loan Agreement with PNC Bank, National Association valued at secured revolving line of credit of $500,000 (effective 2024-04-15).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- PNC Bank, National Association
- Value
- secured revolving line of credit of $500,000
- Effective
- 2024-04-15
Exact text from the filing
On April 15, 2024, Research Solutions, Inc. (the “ Company ”) and Reprints Desk, Inc., a wholly owned subsidiary of the Company (collectively and individually, the “ Borrower ”) entered into a Loan Agreement (the “ PNC Loan Agreement ”) with PNC Bank, National Association (“ PNC ”), as lender.
View on SEC.gov