debt
confidence high
sentiment neutral
materiality 0.50
Maison Solutions subsidiary closes $5.25M secured loan from Royal Business Bank
Maison Solutions Inc.
- Subsidiaries Lee Lee and AZLL secured $5.25M loan at 7.5% interest, maturing September 5, 2030.
- Proceeds used to retire remaining secured debt under original Senior Secured Note Agreement from Lee Lee acquisition.
- Loan is personally guaranteed by CEO John Xu and his spouse; John Xu pledged real property as collateral.
- Monthly payments of $91,039.77 with final balloon payment of $1,139,916.57.
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