{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-012635","form_type":"8-K","ticker":null,"cik":"0001810140","company_name":"Polished.com Inc.","filed_at":"2024-02-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.622084+00:00","generated_at":"2026-06-06T04:24:53.399997+00:00","sec_items":["2.04"],"event_type":"debt","sentiment":"negative","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"Polished.com receives acceleration notice on $91.25M credit facility; BofA demands immediate repayment","bullets":["On Feb 6, 2024, Bank of America demanded immediate repayment of $91.25M principal plus accrued interest under Credit Agreement.","Default triggered by non-payment of amounts due Jan 31, 2024; default rate interest now applies.","BofA exercised set-off against subsidiary deposits totaling $1,989,754.83, applied to outstanding obligations.","Company is seeking resolution but warns failure could cause material adverse effect on liquidity and possible bankruptcy.","Outstanding principal balance as of Feb 12, 2024 was $91.25M."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-012635","json":"https://secwatch.observer/filing/0001213900-24-012635.json","markdown":"https://secwatch.observer/filing/0001213900-24-012635.md","text":"https://secwatch.observer/filing/0001213900-24-012635.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1810140/000121390024012635/0001213900-24-012635-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1810140/000121390024012635/ea193489-8k_polished.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T04:24:53.399997+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3b79feafd21ae77e4b7b5a82e04ced452696cfb9","claim":"Polished.com Inc. faced acceleration on credit facility of $91,250,000 with Bank of America, N.A. at Default Rate.","evidence_excerpt":"the Credit Agreement and each other Loan Document (as defined in the Credit Agreement). As of February 12, 2024, the outstanding principal balance under the Credit Agreement was $91,250,000. The Notice of Acceleration declares that the Company’s outstanding obligations under the Credit Agreement bear interest at the Default Rate (as defined in the Credit Agreement)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1810140/000121390024012635/0001213900-24-012635-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$91,250,000"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Rate","value":"Default Rate"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}