Aqua Metals, Inc. (AQMS): M&A transaction — Aqua Metals buys 21,000 sq ft building for $4.275M, $3M loan at 9.5%

Aqua Metals, Inc.

Subsidiary purchased a 21,000 sq ft building in McCarran, NV for $4.275 million from an unaffiliated party on Feb 1, 2023.
Entered into a $3 million loan from Summit Investment Services at 9.50% fixed annual interest.
Loan is interest-only for first 24 months, with principal and interest due March 1, 2025.
Prepayment requires a minimum interest guarantee of $213,750 (9 months' interest).
Loan is secured by a first-priority lien on the building and guaranteed by Aqua Metals.

item 1.01 item 2.01 item 2.03

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

Aqua Metals, Inc. incurred loan of $3 million with Summit Investment Services, LLC at 9.50% maturing March 1, 2025.

Instrument: loan
Principal: $3 million
Counterparty: Summit Investment Services, LLC
Rate: 9.50%
Maturity: March 1, 2025
Event: incurrence

Exact text from the filing

On February 1, 2023, Aqua Metals Reno, Inc., our wholly-owned subsidiary, entered into a Loan Agreement with Summit Investment Services, LLC, a Nevada limited liability company (the “Lender”), pursuant to which the Lender provided us with a loan in the amount of $3 million.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Aqua Metals, Inc. completed an acquisition for $4.275 million (closed 2023-02-01).

Action: acquisition
Consideration: $4.275 million
Closing: 2023-02-01

Exact text from the filing

On February 1, 2023, Aqua Metals Reno, Inc., our wholly-owned subsidiary, completed the purchase of a 21,000 square foot building, from an unaffiliated party, located on 2999 Waltham Way McCarran, Nevada 89434 for $4.275 million.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Aqua Metals, Inc. entered into Loan Agreement with Summit Investment Services, LLC valued at $3 million (effective 2023-02-01).

Action: entry
Agreement: credit facility
Counterparty: Summit Investment Services, LLC
Value: $3 million
Effective: 2023-02-01

Exact text from the filing

On February 1, 2023, Aqua Metals Reno, Inc., our wholly-owned subsidiary, entered into a Loan Agreement with Summit Investment Services, LLC, a Nevada limited liability company (the “Lender”), pursuant to which the Lender provided us with a loan in the amount of $3 million.

View on SEC.gov

101 debt financings filed in the last 30 days. Browse all debt financings →

Aqua Metals, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-002594

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