Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
RYTHM, Inc. incurred loan of up to $500,000 with GIC Acquisition, LLC at 10% per annum maturing August 6, 2023.
- Instrument
- loan
- Principal
- up to $500,000
- Counterparty
- GIC Acquisition, LLC
- Rate
- 10% per annum
- Maturity
- August 6, 2023
- Event
- incurrence
Exact text from the filing
On July 12, 2023, the Board of Directors of Agrify Corporation (the “Company”) approved the issuance of an unsecured promissory note (the “Note”) in favor of GIC Acquisition, LLC (the “Investor”), an entity that is owned and managed by Raymond Chang, the Company’s Chairman and Chief Executive Officer. Pursuant to the Note, the Investor will lend up to $500,000 to the Company. The Note bears interest at a rate of 10% per annum, will mature in full on August 6, 2023, and may be prepaid without any fee or penalty.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
RYTHM, Inc. entered into Note with GIC Acquisition, LLC valued at up to $500,000 (effective 2023-07-12).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- GIC Acquisition, LLC
- Value
- up to $500,000
- Effective
- 2023-07-12
Exact text from the filing
On July 12, 2023, the Board of Directors of Agrify Corporation (the “Company”) approved the issuance of an unsecured promissory note (the “Note”) in favor of GIC Acquisition, LLC (the “Investor”), an entity that is owned and managed by Raymond Chang, the Company’s Chairman and Chief Executive Officer. Pursuant to the Note, the Investor will lend up to $500,000 to the Company.
View on SEC.gov