HUMBL enters $2.2M line of credit and $2.2M settlement with Forwardly over warrant

TAP REAL ESTATE TECHNOLOGIES, INC.

Enters 12-month $2.2M line of credit with Sartorii, LLC at 5% interest; draws capped at $440k/month, unsecured.
Settlement with Forwardly: pays $2.2M in five monthly installments of $440k from Nov 2022 to Mar 2023.
Forwardly returns warrant to purchase up to 125M shares; retains 10M shares previously bought for $2M.
Line of credit proceeds expected to fund settlement payments and general working capital.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TAP REAL ESTATE TECHNOLOGIES, INC. entered into Settlement Agreement and Mutual Release of Claims with Forwardly, Inc. valued at $2,200,000 (effective 2022-11-15).

Action: entry
Agreement: settlement
Counterparty: Forwardly, Inc.
Value: $2,200,000
Effective: 2022-11-15

Exact text from the filing

On November 15, 2022 HUMBL entered into a Settlement Agreement and Mutual Release of Claims (the “Release Agreement”) with Forwardly, Inc. (“Forwardly”) under which HUMBL has agreed to pay Forwardly $2,200,000 in five equal monthly payments of $440,000 commencing November 15, 2022 and ending March 15, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TAP REAL ESTATE TECHNOLOGIES, INC. entered into Line of Credit Agreement with SARTORII, LLC valued at $2,200,000 (effective 2022-11-15).

Action: entry
Agreement: credit facility
Counterparty: SARTORII, LLC
Value: $2,200,000
Effective: 2022-11-15

Exact text from the filing

On November 15, 2022, the registrant (“HUMBL”), entered into a 12 month Line of Credit Agreement with SARTORII, LLC (“SARTORII”) under which SARTORII agreed to lend up to $2,200,000 in principal amount through a series of draws not to exceed $440,000 per month and bearing annual interest of 5%.

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TAP REAL ESTATE TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001493152-22-032971

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