Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 1.0
LifeMD, Inc. incurred credit facility of up to $40 million with Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P. at variable rate per annum equal to the greater of (i) the sum of 4.75% plus the Pr maturing October 1, 2026.
- Instrument
- credit facility
- Principal
- up to $40 million
- Counterparty
- Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P.
- Rate
- variable rate per annum equal to the greater of (i) the sum of 4.75% plus the Pr
- Maturity
- October 1, 2026
- Event
- incurrence
Exact text from the filing
On March 21, 2023, LifeMD, Inc. (the “Company”) entered into and closed on a Loan and Security Agreement (the “Loan Agreement”) with Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P. (together with Avenue Venture Opportunities Fund II, L.P., the “Lenders”), and a Supplement to the Loan Agreement (the “Supplement”), pursuant to which the Lenders made available to the Company a senior secured credit facility with an aggregate principal amount of up to $40 million (the “Credit Facility”), consisting of an initial advance of $15 million drawn by the Company on March 21, 2023 and an additional commitment to make loans of up to $5 million in the fourth quarter of 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
LifeMD, Inc. entered into Loan and Security Agreement with Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P. valued at $40,000,000 (effective 2023-03-21).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P.
- Value
- $40,000,000
- Effective
- 2023-03-21
Exact text from the filing
On March 21, 2023, LifeMD, Inc. (the “Company”) entered into and closed on a Loan and Security Agreement (the “Loan Agreement”) with Avenue Venture Opportunities Fund II, L.P. and Avenue Venture Opportunities Fund, L.P. (together with Avenue Venture Opportunities Fund II, L.P., the “Lenders”), and a Supplement to the Loan Agreement (the “Supplement”), pursuant to which the Lenders made available to the Company a senior secured credit facility with an aggregate principal amount of up to $40 million (the “Credit Facility”), consisting of an initial advance of $15 million drawn by the Company on March 21, 2023 and an additional commitment to make loans of up to $5 million in the fourth quarter of 2023.
View on SEC.gov