Intellinetics prepays $1M of 12% notes, offers holders maturity extension to Aug 2023

INTELLINETICS, INC.

Prepaid $1,000,000 (50% of outstanding principal) on its 12% subordinated promissory notes on Dec 1, 2022.
Amendment allows individual note holders to extend maturity from Feb 28, 2023 to Aug 31, 2023, with 12% quarterly interest continuing.
Notes originally dated March 2, 2020; extension election is voluntary for each holder.
Prepayment was pro rata as required; amendment required consent of holders of at least 51% of outstanding principal.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

INTELLINETICS, INC. amended Amendment to all of its 12% Subordinated Promissory Notes with certain accredited investors valued at allow individual Note holders to elect to extend the Maturity Dates of their respective Notes from F (effective 2022-12-07).

Action: amendment
Agreement: notes offering
Counterparty: certain accredited investors
Value: allow individual Note holders to elect to extend the Maturity Dates of their respective Notes from F
Effective: 2022-12-07

Exact text from the filing

On December 7, 2022, Intellinetics, Inc. (the “Company”) entered into an Amendment to all of its 12% Subordinated Promissory Notes, dated March 2, 2020 (the “Notes”) with certain accredited investors. The Amendment allows individual Note holders to elect to extend the Maturity Dates of their respective Notes from February 28, 2023 to August 31, 2023.

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Source: SEC EDGAR

accession 0001493152-22-034806

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