Eightco Holdings Inc. (ORBS): debt financing — Eightco subsidiary receives $100K loan from new lender Todd Kuimjian under existing facility

Eightco Holdings Inc.

Forever 8 Fund, LLC, wholly owned subsidiary of Eightco, entered into Loan and Security Agreement with Todd Kuimjian on August 23, 2023.
Kuimjian advanced $100,000 to the Borrower under same terms as original June 5, 2023 facility.
Borrower issued a $100,000 promissory note to Kuimjian on same date.
Original facility had $500,000 aggregate commitment; facility can be increased up to $5,000,000 with board approval.

item 1.01 item 2.03 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

Eightco Holdings Inc. incurred loan of $100,000 with Todd Kuimjian.

Instrument: loan
Principal: $100,000
Counterparty: Todd Kuimjian
Event: incurrence

Exact text from the filing

On August 23, 2023, Todd Kuimjian entered into the Agreement and advanced the Borrower $100,000 under the same terms. The Borrower issued Mr. Kuimjian a Promissory Note in the amount of $100,000 on this same date.

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

Eightco Holdings Inc. entered into Loan and Security Agreement with Todd Kuimjian valued at $100,000 (effective 2023-08-23).

Action: entry
Agreement: credit facility
Counterparty: Todd Kuimjian
Value: $100,000
Effective: 2023-08-23

Exact text from the filing

Borrower”), entered into a Loan and Security Agreement (the “Agreement”) with several individuals, financial institutions and entities (collectively, the “Lenders”).

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Eightco Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-030253

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