Energous enters subordinated loan agreement for up to $2.125M; initial $525K term loan matures April 2025

Energous Corp

Initial $525,000 term loan from Agile Capital Funding and Agile Lending; up to $1.6M additional available on same terms.
Repayment in weekly $27,000 installments starting Oct 14, 2024, with maturity date April 21, 2025.
Loan is subordinated to senior indebtedness; security interest in collateral (excluding IP) arises only upon default.
Prepayment allowed after 60 days but subject to make-whole premium equal to remaining interest through maturity.
Default interest rate increases by 5% per annum above contract rate upon an event of default.

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