SONIC FOUNDRY INC: debt financing — Sonic Foundry enters loan amendment with NBE, defers monthly payment with $20k fee

SONIC FOUNDRY INC

On May 19, 2023, Sonic Foundry amended its loan agreement with Neltjeberg Bay Enterprises (NBE) effective May 18, 2023.
Amendment defers a Regular Monthly Payment and imposes a $20,000 Deferral Fee beginning June 1, 2023.
NBE may cancel the deferral after September 1, 2023, requiring full recalculated monthly payments thereafter.

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

SONIC FOUNDRY INC amended credit facility with Neltjeberg Bay Enterprises, LLC.

Instrument: credit facility
Counterparty: Neltjeberg Bay Enterprises, LLC
Event: amendment

Exact text from the filing

On May 19, 2023, Sonic Foundry, Inc. (the “Company”) entered into an Amendment to Loan and Security Agreement (the "NBE Amendment") with Neltjeberg Bay Enterprises, LLC ("NBE") and effective May 18, 2023 whereby the NBE Amendment provides for deferral of a Regular Monthly Payment amount with the payment of a $20,000 Deferral Fee, beginning June 1, 2023.

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Source: SEC EDGAR

accession 0001437749-23-015830

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