8-K
filed April 9, 2024, 7:59 PM ET
ticker RENX
CIK 0001959023
debt
confidence high
sentiment neutral
materiality 0.60
RenX Enterprises Corp. (RENX): debt financing — Safe and Green extends $5M note to 2025 at 17% and adds $1M second lien debt
RenX Enterprises Corp.
- Extended $5M LV Note maturity to April 1, 2025; interest rate raised to 17% fixed; paid $50,000 extension fee.
- Issued new $1M second lien note to Austerra Stable Growth Fund, subordinate to the LV Note.
- Second lien note requires monthly interest-only payments, due April 1, 2025, at 17% fixed, prepayable without penalty.
- Note secured by revised deed of trust on Lake Travis project (Lago Vista, TX) and mortgage modification on McLean site (Durant, OK).
- Company guaranteed subsidiary LV Peninsula Holding's obligations under the second lien note via a guaranty dated April 3, 2024.
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
RenX Enterprises Corp. amended loan of $5,000,000 with LV Peninsula Holding, LLC at 17.00% maturing April 1, 2025.
- Instrument
- loan
- Principal
- $5,000,000
- Counterparty
- LV Peninsula Holding, LLC
- Rate
- 17.00%
- Maturity
- April 1, 2025
- Event
- amendment
Exact text from the filing
On April 3, 2024, LV Peninsula Holding, LLC (“LV Holding”), a Texas limited liability company and wholly owned affiliate of Safe and Green Development Corporation (the “Company”), entered into a Modification and Extension Agreement, effective as of April 1, 2024 (the “Extension Agreement”), to extend to April 1, 2025 the maturity date of the promissory note, in the principal amount of $5,000,000 (the “LV Note”), issued by LV Holding pursuant to a Loan Agreement, dated March 30, 2023.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
RenX Enterprises Corp. incurred loan of $1,000,000 at 17.00% maturing April 1, 2025.
- Instrument
- loan
- Principal
- $1,000,000
- Rate
- 17.00%
- Maturity
- April 1, 2025
- Event
- incurrence
Exact text from the filing
pursuant to a loan agreement dated April 3, 2024 (the “2nd Lien Loan Agreement”), LV Holding issued a promissory note, in the principal amount of $1,000,000 (the “2 nd Lien Note”), secured by a revised Deed of Trust and Security Agreement, dated April 3, 2024 (the “Revised Deed of Trust”) on the Company’s Lake Travis project site in Lago Vista, Texas, a Modification to Real Estate Mortgage, dated April 3, 2024 (“Mortgage Modification”), to the mortgage, dated March 30, 2023, on the Company’s McLean site in Durant, Oklahoma,
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
RenX Enterprises Corp. entered into 2nd Lien Loan Agreement with LV Peninsula Holding, LLC valued at $1,000,000 (effective 2024-04-03).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- LV Peninsula Holding, LLC
- Value
- $1,000,000
- Effective
- 2024-04-03
Exact text from the filing
pursuant to a loan agreement dated April 3, 2024 (the “2nd Lien Loan Agreement”), LV Holding issued a promissory note, in the principal amount of $1,000,000 (the “2 nd Lien Note”), secured by a revised Deed of Trust and Security Agreement
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
RenX Enterprises Corp. amended Extension Agreement with LV Peninsula Holding, LLC valued at $5,000,000 (effective 2024-04-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- LV Peninsula Holding, LLC
- Value
- $5,000,000
- Effective
- 2024-04-01
Exact text from the filing
On April 3, 2024, LV Peninsula Holding, LLC (“LV Holding”), a Texas limited liability company and wholly owned affiliate of Safe and Green Development Corporation (the “Company”), entered into a Modification and Extension Agreement, effective as of April 1, 2024 (the “Extension Agreement”), to extend to April 1, 2025 the maturity date of the promissory note, in the principal amount of $5,000,000 (the “LV Note”), issued by LV Holding pursuant to a Loan Agreement, dated March 30, 2023.
View on SEC.gov
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