ProPhase Labs, Inc. (PRPH): debt financing — ProPhase Labs issues $7.6M unsecured note to JXVII Trust, 10% interest, matures Jan 2026

ProPhase Labs, Inc.

Principal $7.6M, 10% annual interest payable quarterly, maturity Jan 27, 2026.
Warrant issued for 76,000 shares at $9.00/share, exercisable for 5 years.
Proceeds for working capital, capex, product development, and potential acquisitions.
Guaranteed by subsidiary Pharmaloz Manufacturing; customary default and covenant provisions.
Prepayment allowed anytime without premium or penalty upon 7 days' notice.

item 1.01 item 2.03 item 3.02 item 9.01

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

ProPhase Labs, Inc. incurred guarantee of $7.6 million with JXVII Trust at 10% per year maturing January 27, 2026.

Instrument: guarantee
Principal: $7.6 million
Counterparty: JXVII Trust
Rate: 10% per year
Maturity: January 27, 2026
Event: incurrence

Exact text from the filing

On January 26, 2023, ProPhase Labs, Inc. (the “Company”) issued an unsecured promissory note and guaranty for an aggregate principal amount of $7.6 million (the “Note”) to JXVII Trust (“JXVII”).

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ProPhase Labs, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-002940

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