secwatch.observer — SEC 8-K summary
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Issuer:     AUDIOEYE INC (AEYE)
CIK:        0001362190
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001104659-25-030650
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AudioEye enters $12M term loan and $3M revolver with Western Alliance Bank, repays SG Credit Partners debt
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- Closed on $12.0M term loan (Term A Advance) on March 31, 2025, with additional $5.0M available through March 2026 and $3.0M revolving credit line.
- Maturity date of March 31, 2030; interest rate at Term SOFR + 3.25% (floor 2.30%).
- Proceeds used to repay ~$7.3M outstanding under prior SG Credit Partners loan, plus working capital and potential acquisitions.
- Covenants include minimum $3M cash and Committed Debt to ARR ratio between 0.70 and 0.55 through June 2026; later leverage and fixed charge coverage ratios.
- Borrowers granted first-priority security interest in all assets; facility fees of $50,000 paid at closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1362190/000110465925030650/0001104659-25-030650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1362190/000110465925030650/tm2511082d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-030650

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