secwatch.observer — SEC 8-K summary
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Issuer:     Precipio, Inc. (PRPO)
CIK:        0001043961
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001104659-24-057536
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Precipio secures $500K loan facility due to Change Healthcare cyberattack cash-flow delay
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- Loan agreement with Altbanq Lending LLC for $250K initial draw; up to $500K total available.
- Interest rate 20%; 52 weekly payments of $5,769.24; total repayment $300K on $250K drawn.
- CEO Ilan Danieli provides personal guaranty for the loan.
- Loan addresses temporary cash-collection delays from Change Healthcare cyberattack; Precipio IT unaffected.
- Company can repay anytime without penalty; additional $250K available at discretion if no material change.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043961/000110465924057536/0001104659-24-057536-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043961/000110465924057536/tm2413628d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-057536

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