secwatch.observer — SEC 8-K summary
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Issuer:     FiEE, Inc. (FIEE)
CIK:        0001467761
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001493152-22-034475
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Minim enters up to $1.5M bridge loan from affiliate; draws $1M initially
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- Slingshot Capital (owned by Chairperson Jeremy Hitchcock and Director Elizabeth Hitchcock) provides bridge loan up to $1.5M.
- Company drew $1M on Nov 30, 2022; additional $500K at lender's sole discretion.
- Interest 8% until Feb 28, 2023, then 14% until maturity Jan 15, 2024; default rate 18%.
- Loan is subordinated to Silicon Valley Bank senior facility; second-priority security interest.
- Company will reimburse Slingshot up to $25,000 for expenses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1467761/000149315222034475/0001493152-22-034475-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1467761/000149315222034475/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-034475

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