Track Group extends $42.9M unsecured debt maturity to July 2027; interest steps up to 6%

Track Group, Inc.

Maturity date extended from July 1, 2024 to July 1, 2027 on $42.864M facility with Conrent Invest.
Interest rate escalates: 4% through July 2024, 5% through July 2025, 5.5% through July 2026, then 6% until maturity.
Change-of-control clause removed from facility agreement; waives prior breaches.
€225,000 fee payable in installments: €40K on effective date, then €35K (2024), €50K (2025, 2026, 2027).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Track Group, Inc. amended Amended Facility Agreement with Conrent Invest S.A. valued at €225,000 in installments (effective 2023-04-28).

Action: amendment
Agreement: credit facility
Counterparty: Conrent Invest S.A.
Value: €225,000 in installments
Effective: 2023-04-28

Exact text from the filing

On April 26, 2023, Track Group, Inc. (the " Company ") and Conrent Invest S.A., acting on behalf of its compartment, "Safety 2" (" Conrent "), entered into an amendment to the facility agreement (the " Amendment ") originally executed by and between the parties on December 30, 2013, as amended on June 30, 2015, July 19, 2018, February 24, 2019, January 10, 2020 and December 21, 2020 (the " Amended Facility Agreement "), containing certain provisions of the Company's existing $42.864 million unsecured debt facility.

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Track Group, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-011263

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