Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
KUSTOM ENTERTAINMENT, INC. incurred senior notes of $3,000,000 with certain investors at No interest accrues under the Notes.
- Instrument
- senior notes
- Principal
- $3,000,000
- Counterparty
- certain investors
- Rate
- No interest accrues under the Notes
- Event
- incurrence
Exact text from the filing
At the First Closing, the Company issued and sold to the Purchasers Senior Secured Convertible Notes in the aggregate original principal amount of $3,000,000
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
KUSTOM ENTERTAINMENT, INC. entered into Senior Secured Convertible Notes with certain investors valued at $3,000,000 principal amount (effective 2023-04-05).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- certain investors
- Value
- $3,000,000 principal amount
- Effective
- 2023-04-05
Exact text from the filing
On April 5, 2023, Digital Ally, Inc. (the “Company”) entered into and consummated the initial closing (the “First Closing”) of the transactions contemplated by a Securities Purchase Agreement, dated as of April 5, 2023 (the “Purchase Agreement”), between the Company and certain investors (the “Purchasers”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
KUSTOM ENTERTAINMENT, INC. entered into Security Agreement with Purchasers valued at Secured by substantially all assets (effective 2023-04-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Purchasers
- Value
- Secured by substantially all assets
- Effective
- 2023-04-05
Exact text from the filing
The Notes rank senior to all outstanding and future indebtedness of the Company and its subsidiaries, and are secured by substantially all of the Company’s assets, as evidenced by (i) a Security Agreement entered into at the Closing (the “Security Agreement”), (ii) a Trademark Security Agreement entered into at the Closing (the “Trademark Security Agreement”), (iii) a Patent Security Agreement entered into at the Closing (the “Patent Security Agreement”), (iv) a Guaranty executed by all direct and indirect subsidiaries of the Company (the “Guaranty”) pursuant to which each of them has agreed to guaranty the obligations of the Company under the Notes, and (v) a mortgage on the Company’s headquarters building in favor of the Purchasers.
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