INVO Fertility, Inc. (IVF): debt financing — INVO Bioscience sells $746.75K future receivables for $515K; nets $134K after prior advance repayment

INVO Fertility, Inc.

Received net cash of $134,018 after using $390,892 to repay a previous Cedar Advance dated July 19, 2023.
Must pay $16,594 per week via ACH debit until the $746,750 receivables purchased amount is collected.
Early repayment within 30 days reduces amount to $643,750; within 31-60 days to $674,650.
Granted Cedar Advance a security interest in accounts, deposit accounts, and accounts receivable.
Proceeds to be used for working capital and general corporate purposes.

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 0.95

INVO Fertility, Inc. incurred debt of $746,750 with a merchant.

Principal: $746,750
Counterparty: a merchant
Event: incurrence

Exact text from the filing

On August 31, 2023, INVO Bioscience, Inc. (the “Company”) entered into a Standard Merchant Cash Advance Agreement (the “Cash Advance Agreement”) with a merchant (the “Merchant”) under which the Merchant purchased $746,750 of our receivables for a gross purchase price of $515,000.

View on SEC.gov

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

INVO Fertility, Inc. entered into Standard Merchant Cash Advance Agreement with a merchant (the "Merchant") valued at $746,750 of our receivables for a gross purchase price of $515,000 (effective 2023-08-31).

Action: entry
Counterparty: a merchant (the "Merchant")
Value: $746,750 of our receivables for a gross purchase price of $515,000
Effective: 2023-08-31

Exact text from the filing

On August 31, 2023, INVO Bioscience, Inc. (the "Company") entered into a Standard Merchant Cash Advance Agreement (the "Cash Advance Agreement") with a merchant (the "Merchant") under which the Merchant purchased $746,750 of our receivables for a gross purchase price of $515,000.

View on SEC.gov

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INVO Fertility, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-031521

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