secwatch.observer — SEC 8-K summary
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Issuer:     Energous Corp (WATT)
CIK:        0001575793
Form:       8-K
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0001104659-24-115976
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1575793/000110465924115976/0001104659-24-115976-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1575793/000110465924115976/tm2427982d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-115976

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