Intellinetics amends notes, extends maturity option to Dec 2025; grants 80k restricted shares to execs

INTELLINETICS, INC.

Note amendment allows individual holders to extend maturity from March 30, 2025 to Dec 31, 2025; 12% interest continues.
Restricted stock awards: DeSocio 30k shares, Chretien 25k, Spain 25k, vesting one-third at grant, then annually.
Salary increases approved: DeSocio to $355k, Spain to $240k, Chretien to $212k, retroactive to Jan 1, 2024.
Severance extended for DeSocio and Spain: 1 year base salary upon change of control, 6 months for other termination.

Key facts

Extracted from this filing and checked against the source text.

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

INTELLINETICS, INC. amended Amendment to all of its 12% Subordinated Promissory Notes with certain accredited investors (effective 2024-03-13).

Action: amendment
Agreement: notes offering
Counterparty: certain accredited investors
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, Intellinetics, Inc. (the “Company”) entered into an Amendment to all of its 12% Subordinated Promissory Notes, dated April 1, 2022 (the “Notes”) with certain accredited investors.

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INTELLINETICS, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-010484

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