SONIC FOUNDRY INC: debt financing — Sonic Foundry amends loan with chair Burish, defers payments, adds $2M capacity

SONIC FOUNDRY INC

Deferral of monthly payment with a $10,909 fee effective June 1, 2023.
Original $3M principal can be increased by up to $2M in tranches at 12% interest.
Burish may cancel deferral fee after Sept 1, 2023, restoring full monthly payments.
Amendment with board chair Mark Burish; terms recalculated on final principal.

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 incurred loan of increase to the original principal amount of $3,000,000 by up to an additional $2,000,000 with Mark Burish at 12% rate of interest per annum.

Instrument: loan
Principal: increase to the original principal amount of $3,000,000 by up to an additional $2,000,000
Counterparty: Mark Burish
Rate: 12% rate of interest per annum
Event: incurrence

Exact text from the filing

The Burish Amendment further provides for an increase to the original principal amount of $3,000,000 by up to an additional $2,000,000 in one or more tranches. Such additional borrowings are subject to the same 12% rate of interest per annum.

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001437749-23-016248

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.