SONIC FOUNDRY INC: debt financing — Sonic Foundry increases borrowing from board chair Burish by $500K to $6M at 12% interest

SONIC FOUNDRY INC

Third Amendment increases principal to $6M; additional $500K funded on Dec 27, 2023.
Interest rate remains 12% per annum; terms unchanged from prior agreements.
Borrowing from board chair Mark Burish; regular monthly payments to be recalculated.

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 debt of $6,000,000 with Mark Burish at 12% per annum.

Principal: $6,000,000
Counterparty: Mark Burish
Rate: 12% per annum
Event: amendment

Exact text from the filing

The Burish Third Amendment provides for an increase to the principal amount by $500,000 from $5,500,000 to $6,000,000.

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Source: SEC EDGAR

accession 0001437749-24-000136

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