LiveOne, Inc. (LVO): debt financing — LiveOne borrows $1.7M from Capchase at 9% interest, fully secured

LiveOne, Inc.

Loan amount $1,700,000 at 9% interest, fully amortizing over 30 months.
Proceeds used for general working capital and corporate purposes.
Loan is secured by all of LiveOne's assets; subordinated to senior debt with East West Bank.
Prepayment without penalty; customary covenants and events of default.
Capchase Inc. is the lender; agreement dated August 2, 2023.

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

LiveOne, Inc. incurred loan of $1.7 million with Capchase Inc. at 9% maturing 30-month period after August 3, 2023.

Instrument: loan
Principal: $1.7 million
Counterparty: Capchase Inc.
Rate: 9%
Maturity: 30-month period after August 3, 2023
Event: incurrence

Exact text from the filing

On August 2, 2023, LiveOne, Inc. (the “Company”) entered into a Loan and Security Agreement (the “Loan Agreement”) with Capchase Inc. (the “Lender”), pursuant to which the Company borrowed $1.7 million collateralized by all of the assets of the Company (the “Loan”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LiveOne, Inc. entered into Loan and Security Agreement with Capchase Inc. valued at $1.7 million; 9% interest rate; 30-month maturity (effective 2023-08-02).

Action: entry
Agreement: credit facility
Counterparty: Capchase Inc.
Value: $1.7 million; 9% interest rate; 30-month maturity
Effective: 2023-08-02

Exact text from the filing

On August 2, 2023, LiveOne, Inc. (the "Company") entered into a Loan and Security Agreement (the "Loan Agreement") with Capchase Inc. (the "Lender"), pursuant to which the Company borrowed $1.7 million collateralized by all of the assets of the Company (the "Loan").

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

LiveOne, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-064619

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