CHARLES & COLVARD LTD: debt financing — Charles & Colvard obtains $1M DIP financing; asset sale targeted by July 7, 2026

CHARLES & COLVARD LTD

DIP facility from Van Lang Jewelry LLC up to $1M at 9% interest, secured by first-priority liens on precious metals and unencumbered assets.
Interim order entered March 24, 2026; final order hearing set for April 14, 2026.
Milestones: file asset-sale motion by April 15, obtain sale order by July 2, close by July 7.
Company warns common stockholders may suffer significant or complete loss depending on Chapter 11 outcome.
Proceeds to fund operating expenses, bankruptcy costs, and working capital under approved budget.

item 1.01 item 2.03 item 9.01

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

CHARLES & COLVARD LTD incurred credit facility of $1 million with Van Lang Jewelry LLC at 9% per annum.

Instrument: credit facility
Principal: $1 million
Counterparty: Van Lang Jewelry LLC
Rate: 9% per annum
Event: incurrence

Exact text from the filing

On March 24, 2026, the Company obtained an interim order of the Bankruptcy Court authorizing the Company to obtain post-petition financing in the form of a senior secured superpriority debtor-in-possession credit facility (the “DIP Facility”) consisting of a multiple-draw term loan facility in the aggregate maximum principal amount of up to $1 million

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001104659-26-039968

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.