GridAI Technologies Corp. (GRDX): debt financing — Entero Therapeutics subsidiary settles litigation, restructures $7.9M debt with $5.5M payment and new revolving loan

GridAI Technologies Corp.

ImmunogenX subsidiary settled lawsuit with Mattress Liquidators; guarantors paid $5.5M of ~$7.9M owed on Apr 9, 2025.
New revolving loan of $2.44M to ImmunogenX matures Apr 9, 2028; security interest in subsidiary released.
Lawsuit to be dismissed with prejudice; ImmunogenX responsible for ~$62,000 in plaintiff's legal fees.
Annual meeting June 27, 2025; stockholder proposals/director nominations due by May 23, 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GridAI Technologies Corp. amended revolving credit of $2,436,338.30 with Mattress Liquidators Inc. maturing April 9, 2028.

Instrument: revolving credit
Principal: $2,436,338.30
Counterparty: Mattress Liquidators Inc.
Maturity: April 9, 2028
Event: amendment

Exact text from the filing

enter into amended and restated loan documents (collectively, the “Amended and Restated Loan Documents”) dated April 9, 2025 which provide for, among others, a revolving loan of $2,436,338.30 (the “Commitment”) to ImmunogenX, LLC, to be repaid and the principal amount thereof reborrowed before the earliest of: (i) April 9, 2028; (ii) the date ImmunogenX, LLC prepays

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Source: SEC EDGAR

accession 0001104659-25-048544

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