Eightco Holdings Inc. (ORBS): debt financing — Eightco Holdings subsidiary borrows $200k from director Kevin O'Donnell and Joseph Johnston

Eightco Holdings Inc.

Forever 8 Fund subsidiary borrowed $100k each from director Kevin O'Donnell and Joseph Johnston under existing Loan and Security Agreement.
Loans made on Aug 16-17, 2023; bear 15% annual interest; due June 30, 2024 (extendable to Sept 30, 2024).
Each lender received a Promissory Note for the $100k principal amount.
Aggregate facility can increase to $5M with board and Eightco board approval.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Eightco Holdings Inc. incurred loan of $100,000 with Kevin O’Donnell at same terms (as previously reported Agreement) maturing same terms (as previously reported Agreement).

Instrument: loan
Principal: $100,000
Counterparty: Kevin O’Donnell
Rate: same terms (as previously reported Agreement)
Maturity: same terms (as previously reported Agreement)
Event: incurrence

Exact text from the filing

On August 17, 2023, Kevin O’Donnell, a Company director, entered into the Agreement and advanced the Borrower $100,000 under the same terms.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Eightco Holdings Inc. incurred loan of $100,000 with Joseph Johnston at same terms (as previously reported Agreement) maturing same terms (as previously reported Agreement).

Instrument: loan
Principal: $100,000
Counterparty: Joseph Johnston
Rate: same terms (as previously reported Agreement)
Maturity: same terms (as previously reported Agreement)
Event: incurrence

Exact text from the filing

On August 16, 2023, Joseph Johnston entered into the Agreement and advanced the Borrower $100,000 under the same terms.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Eightco Holdings Inc. entered into Agreement with Joseph Johnston valued at $100,000 (effective 2023-08-16).

Action: entry
Agreement: credit facility
Counterparty: Joseph Johnston
Value: $100,000
Effective: 2023-08-16

Exact text from the filing

.01 Entry into a Material Definitive Agreement As previously reported on the Company’s Current Report on Form 8-K as filed with the Securities and Exchange Commission on June 5,

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Eightco Holdings Inc. entered into Agreement with Kevin O’Donnell valued at $100,000 (effective 2023-08-17).

Action: entry
Agreement: credit facility
Counterparty: Kevin O’Donnell
Value: $100,000
Effective: 2023-08-17

Exact text from the filing

On August 17, 2023, Kevin O’Donnell, a Company director, entered into the Agreement and advanced the Borrower $100,000 under the same terms.

View on SEC.gov

222 debt financings filed in the last 30 days. Browse all debt financings →

Eightco Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-029843

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