---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-025392"
form_type: "8-K"
ticker: "GUER"
cik: "0001832487"
company_name: "Guerrilla RF, Inc."
filed_at: "2023-09-07T23:59:59+00:00"
generated_at: "2026-06-10T22:59:49.120074+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Guerrilla RF draws $1.75M new debt at 14% PIK; management takes 20% pay cut; secures first SATCOM PO

## Summary
- Amended loan with Salem: $4M additional available, $1.75M drawn at 14% PIK, 660k shares issued as partial consideration.
- Entire management team (CEO, CFO, COO, CBO) voluntarily reduce salaries by 20% effective Sept 4, 2023.
- First production PO from Tier 1 SATCOM company for $360K; expects 2024 SATCOM gross revenue to exceed $1M.
- Expects H2 2023 gross revenue to exceed $7M (H1 2023 revenue) due to SATCOM order and design wins.
- Inventory levels normalized; no material excess inventory, unlike other industry providers.

## SEC filing metadata
- accession: 0001437749-23-025392
- form_type: 8-K
- ticker: GUER
- cik: 0001832487
- company_name: Guerrilla RF, Inc.
- filed_at: 2023-09-07T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832487/000143774923025392/0001437749-23-025392-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832487/000143774923025392/guer20230830_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-025392
- JSON: https://secwatch.observer/filing/0001437749-23-025392.json
- Plain text: https://secwatch.observer/filing/0001437749-23-025392.txt

## Key facts
- Debt Financings
  Guerrilla RF, Inc. incurred credit facility of up to $4.0 million with Salem Investment Partners V, Limited Partnership at 14.0% per annum maturing April 30, 2024.
  - Instrument: credit facility
  - Principal: up to $4.0 million
  - Counterparty: Salem Investment Partners V, Limited Partnership
  - Rate: 14.0% per annum
  - Maturity: April 30, 2024
  - Event: incurrence
  source text: an amended and restated loan agreement (the “Agreement”) with Salem Investment Partners V, Limited Partnership (“Salem”) in order to provide for additional advances of up to $4.0 million (the “Additional Advances”) to be made under the existing loan facility. On September 6, 2023, the Company drew down $1.75 million of the Additional Advances, leaving up to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832487/000143774923025392/0001437749-23-025392-index.htm
- Material Agreements
  Guerrilla RF, Inc. amended Agreement with Salem Investment Partners V, Limited Partnership valued at up to $4.0 million (effective 2023-09-05).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Salem Investment Partners V, Limited Partnership
  - Value: up to $4.0 million
  - Effective: 2023-09-05
  source text: On September 5, 2023, Guerrilla RF, Inc. (the "Company") entered into an amended and restated loan agreement (the "Agreement") with Salem Investment Partners V, Limited Partnership ("Salem") in order to provide for additional advances of up to $4.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832487/000143774923025392/0001437749-23-025392-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.