LiveOne, Inc. (LVO): debt financing — LiveOne amends credit facility with East West Bank, reduces principal to $3.75M, extends maturity to Nov 2025

On January 28, 2025, LiveOne, Inc. (the “Company”) entered into a new Business Loan Agreement (the “Business Loan Agreement”) with East West Bank (the “Senior Lender”) to update certain terms of the Company’s current credit facility with the Senior Lender (the “Credit Facility”), including to reduce the principal amount outstanding under the Promissory Note (as defined below) to $3,750,000, reflecting the Company’s repayment of $3,250,000 of the principal amount to date, and to extend the maturity date of the Promissory Note to November 20, 2025. Borrowings under the Credit Facility are subject to certain covenants as set forth in the Business Loan Agreement and bear interest at a rate equal to the “Money Rate” column of The Wall Street Journal (Western Edition) as determined by the Senior Lender plus 2.50%, resulting in the initial rate of 10.00%.