secwatch.observer — SEC 8-K summary
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Issuer:     Energous Corp (WATT)
CIK:        0001575793
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001104659-24-105574
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575793/000110465924105574/0001104659-24-105574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575793/000110465924105574/tm2425457d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-105574

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