secwatch.observer — SEC 8-K summary
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Issuer:     REGO PAYMENT ARCHITECTURES, INC. (RPMT)
CIK:        0001437283
Form:       8-K
Filed at:   2023-03-16T23:59:59+00:00
Accession:  0001214659-23-003865
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rego Payment secures $20M line of credit from major investor James Davison
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- Existing shareholder James Davison provides $20M unsecured line of credit at 7% interest.
- Funds repayable upon change of control or within one year if no change occurs.
- Proceeds to support expansion of Banking-as-a-Platform services to financial institutions.
- Company notes total capital raised of ~$100M for development and commercialization.
- CEO states LOC positions REGO to execute 2023 strategic plan and achieve expansion goals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437283/000121465923003865/0001214659-23-003865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437283/000121465923003865/o3152308k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-003865

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer