Energous upsizes subordinated loan to $997K, with up to $1.6M available

Energous Corp

Amended loan agreement increases term loan from $525K to $997K; additional $1.6M available upon request after 12 weekly payments.
Weekly amortization payments of ~$39K begin Nov 14, 2024; maturity date July 17, 2025.
Proceeds used to pay off existing $648K balance and fund general business requirements.
Loan is subordinated to senior indebtedness; security interest granted only upon event of default.
Default interest rate increases by 5% per annum upon event of default.

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