Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
INTERPACE BIOSCIENCES, INC. incurred credit facility of $2,500,000 with BroadOak Fund V, L.P. at 8.00% per annum.
- Instrument
- credit facility
- Principal
- $2,500,000
- Counterparty
- BroadOak Fund V, L.P.
- Rate
- 8.00% per annum
- Event
- incurrence
Exact text from the filing
Second Amendment ”) with BroadOak Fund V, L.P. (“ BroadOak ”), pursuant to which, among other things, the Company and BroadOak agreed to: (i) a payment of a lump sum payment of $2,500,000 on or prior to October 31, 2023 in full satisfaction of the $3,000,0000 terminal payment under the Loan and Security Agreement, dated October 29, 2021, as amended by the First
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INTERPACE BIOSCIENCES, INC. amended Second Amendment to Loan Security Agreement with BroadOak Fund V, L.P. valued at $2,500,000 (effective 2023-10-24).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- BroadOak Fund V, L.P.
- Value
- $2,500,000
- Effective
- 2023-10-24
Exact text from the filing
On October 24, 2023, Interpace Biosciences, Inc. (the “ Company ”) and its subsidiaries entered into the Second Amendment to Loan Security Agreement (the “ Second Amendment ”) with BroadOak Fund V, L.P. (“ BroadOak ”), pursuant to which, among other things, the Company and BroadOak agreed to: (i) a payment of a lump sum payment of $2,500,000 on or prior to October 31, 2023 in full satisfaction of the $3,000,0000 terminal payment under the Loan and Security Agreement, dated October 29, 2021, as amended by the First Amendment to Loan and Security Agreement and Consent, dated May 5, 2022 (the “ Loan and Security Agreement ”); (ii) a reduction of the interest rate under the Loan and Security Agreement from nine percent (9.00%) per annum to eight percent (8.00%) per annum commencing on November 1, 2023 through October 31, 2024, or earlier, upon the occurrence of a change in control (the “ Maturity Date ”); and (iii) the Company’s right to extend the Maturity Date upon sixty (60) days’ writt
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