Healing Co Inc.: debt financing — Healing Company receives notice of default and acceleration on $4.37M credit facility

Healing Co Inc.

Westmount Group as administrative agent accelerated ~$4.37M total obligations under August 2022 Credit Agreement.
Default triggered by missed interest payments of $91,454.13 each for November and December 2023.
Acceleration demands immediate payment of $4.16M principal, $185K accrued interest, and $22K default interest.
Credit commitments terminated; no further loans or accommodations will be provided.

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

Healing Co Inc. faced acceleration on credit facility of $4,160,887.68 with Westmount Group LLC, as administrative agent.

Instrument: credit facility
Principal: $4,160,887.68
Counterparty: Westmount Group LLC, as administrative agent
Event: acceleration

Exact text from the filing

on or after the date of Notice. As of the date of the Notice, the aggregate outstanding obligations under the Credit Agreement were approximately $4,368,014.99 (comprised of (i) $4,160,887.68 in respect of outstanding principal, (ii) $185,282.65 of accrued and unpaid interest, (iii) $21,844.66 of unpaid default interest, and (iv) other, presently unliquidated, amounts

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Source: SEC EDGAR

accession 0001477932-24-000864

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