Bright Mountain Media secures additional $2.0M term loan, maturing June 2024

Bright Mountain Media, Inc.

Nineteenth Amendment provides $2,000,000 additional term loan facility; maturity June 30, 2024.
Total lender commitments post-amendment: ~$21.9M (CL Partners II), ~$1.85M (II-A), ~$4.35M (II-B), ~$26.3M (BV Agency).
Eighteenth Amendment (June 30, 2023) restructured an installment payment into three monthly installments (Jul, Aug, Sep 2023).
Loan is senior secured with Centre Lane Partners as administrative agent and collateral agent.
Earlier amendments (1st-17th) have been fully drawn and reduced to $0; total commitments now approx. $54.4M.

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

Bright Mountain Media, Inc. amended Nineteenth Amendment to the Amended and Restated Senior Secured Credit Agreement with Centre Lane Partners Master Credit Fund II, L.P. valued at additional term loan amount of $2,000,000 (effective 2023-07-28).

Action: amendment
Agreement: credit facility
Counterparty: Centre Lane Partners Master Credit Fund II, L.P.
Value: additional term loan amount of $2,000,000
Effective: 2023-07-28

Exact text from the filing

On July 28, 2023, the Company and its subsidiaries, CL Media Holdings LLC, Bright Mountain LLC, MediaHouse, Inc., Big-Village Agency LLC, and BV Insights LLC, and Centre Lane Partners entered into the Nineteenth Amendment to the Credit Agreement (the “Nineteenth Amendment”).

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Bright Mountain Media, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-026661

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