REGO PAYMENT ARCHITECTURES, INC. (RPMT): debt financing — Rego Payment Architectures extends $20M credit line with shareholder to March 2025

REGO PAYMENT ARCHITECTURES, INC.

Amendment extends maturity of existing $20M unsecured line of credit from March 13, 2024 to March 13, 2025.
No outstanding balance; loans bear interest at 7% per annum.
Repayment required upon change of control or within 60 days if no change of control within one year.
Lender James Davison is an existing shareholder of the Company.

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

REGO PAYMENT ARCHITECTURES, INC. amended credit facility of up to twenty million dollars ($20,000,000) with James Davison at 7% per annum maturing March 13, 2025.

Instrument: credit facility
Principal: up to twenty million dollars ($20,000,000)
Counterparty: James Davison
Rate: 7% per annum
Maturity: March 13, 2025
Event: amendment

Exact text from the filing

Agreement, as modified by the Amendment (as modified, the “LOC Agreement”), the Lender may extend unsecured loans to the Company in the amount of up to twenty million dollars ($20,000,000) which may be drawn upon by the Company through March 13, 2025 in order to provide additional capital to facilitate the Company’s operations. Drawings may be made by the Company

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REGO PAYMENT ARCHITECTURES, INC. filing history →

Source: SEC EDGAR

accession 0001214659-24-004839

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