Ispire Technology Inc. (ISPR): debt financing — Ispire Technology enters $20M secured loan facility with Avon River Ventures at 15.25% interest

Ispire Technology Inc.

Up to $20M in three tranches: $5M first, $5M second, $10M third; first tranche matures Feb 2027.
Interest rate 15.25% fixed per annum; initial 3-month interest-only period per tranche.
Prepayment allowed with 3% premium; secured by accounts, inventory, IP, equity interests, real property.
Must maintain minimum unrestricted cash equal to 10% of loan balance; inventory collateral must cover outstanding.
Consulting agreement with Avon: up to $532k cash + $320k in stock for advisory services through Feb 2026.

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

Ispire Technology Inc. incurred credit facility of up to $20 million with Avon River Ventures LLC at 15.25% maturing February 10, 2027 for the First Tranche.

Instrument: credit facility
Principal: up to $20 million
Counterparty: Avon River Ventures LLC
Rate: 15.25%
Maturity: February 10, 2027 for the First Tranche
Event: incurrence

Exact text from the filing

On February 10, 2025 (the "Closing Date"), Ispire Technology Inc. (the "Company") entered into a Master Loan and Security Agreement (the "MLSA") with Avon River Ventures LLC (the "Lender" or "Avon"). Pursuant to the MLSA, the Company issued a secured promissory note (the "Promissory Note") in the principal amount of up to $20 million

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Ispire Technology Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-014317

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