secwatch.observer — SEC 8-K summary
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Issuer:     JONES SODA CO. (JSDA)
CIK:        0001083522
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0001437749-24-018110
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Jones Soda enters $2M secured loan facility with Amerisource Funding Inc.
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- Maximum borrowing of $2M, secured by first-priority lien on all assets of Jones Soda and its US subsidiaries.
- Advances limited to 80% of eligible accounts receivable, net of reserves.
- Annual interest at Prime Rate plus 3.50%, with 6.00% floor.
- Initial 3-year term, auto-renewing for successive 3-year periods unless terminated with 60 days' notice.
- Events of default include payment default, adverse financial changes, bankruptcy, or loss of key employees; triggers immediate acceleration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083522/000143774924018110/0001437749-24-018110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083522/000143774924018110/jsda20240521_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-018110

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