STRYVE FOODS, INC.: debt financing — Stryve Foods extends maturity on $4.1M notes, issues shares to lender for interest

STRYVE FOODS, INC.

Extended maturity of $4.1M secured notes from Dec 31, 2023 to earlier of Dec 31, 2024 or equity raise >= $3M.
Final lender holding $1.5M agreed; warrant exercise price cut from $7.701 to $2.75 per split-adjusted share.
Issued 45,908 Class A common shares to final lender as payment for accrued interest through Dec 31, 2023.
Other lenders with $2.6M notes will also receive option to accept shares for interest under same terms.
Amendments follow earlier 8-K on Jan 12, 2024 covering other lenders; all notes now extended.

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

STRYVE FOODS, INC. amended loan of $1.5 million in aggregate principal amount of the Company’s outstanding $4.1 million in aggregate principal amount of se with Final Lender maturing December 31, 2024.

Instrument: loan
Principal: $1.5 million in aggregate principal amount of the Company’s outstanding $4.1 million in aggregate principal amount of se
Counterparty: Final Lender
Maturity: December 31, 2024
Event: amendment

Exact text from the filing

the Company entered into a First Amendment to the Promissory Notes dated as of April 19, 2023 (the “ Amendments ”) with the holder (the “ Final Lender ”) of remaining $1.5 million in aggregate principal amount of the Company’s outstanding $4.1 million in aggregate principal amount of secured promissory notes (the “ Notes ”)

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Source: SEC EDGAR

accession 0001493152-24-004445

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