---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-010514"
form_type: "8-K"
ticker: null
cik: "0001886799"
company_name: "Bright Green Corp"
filed_at: "2024-03-19T23:59:59+00:00"
generated_at: "2026-06-04T13:58:35.933525+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Bright Green secures $60M credit line at 14% fixed rate; settles Alterola share obligations

## Summary
- Entered $60M credit line with JVR Holdings; fixed rate 14% or variable prime+10%; matures May 1, 2034.
- Minimum draw $5M per request; up to 12 draws; processing fee $1.2M; application fee $75k or 350k shares.
- Facility secured by $100M mortgage on principal office and general security agreement.
- Settlement transfers 201,761,987 Alterola shares to United Science and three sellers, resolving ~$1.65M obligations and S&S debts.
- No further monetary payments owed under Secondary SPA or S&S Agreements.

## SEC filing metadata
- accession: 0001493152-24-010514
- form_type: 8-K
- cik: 0001886799
- company_name: Bright Green Corp
- filed_at: 2024-03-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1886799/000149315224010514/0001493152-24-010514-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1886799/000149315224010514/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-010514
- JSON: https://secwatch.observer/filing/0001493152-24-010514.json
- Plain text: https://secwatch.observer/filing/0001493152-24-010514.txt

## Key facts
- Debt Financings
  Bright Green Corp incurred revolving credit of up to a maximum amount of $60 million with JVR Holdings at fixed rate per annum equal to 14.0% maturing May 1, 2034.
  - Instrument: revolving credit
  - Principal: up to a maximum amount of $60 million
  - Counterparty: JVR Holdings
  - Rate: fixed rate per annum equal to 14.0%
  - Maturity: May 1, 2034
  - Event: incurrence
  source text: On March 14, 2024, Bright Green Corporation, a Delaware corporation ("Company") entered into a credit agreement (the "Credit Agreement") with JVR Holdings (the "Lender"), pursuant to which the Lender agreed to provide the Company with a line of credit facility (the "Line of Credit") up to a maximum amount of $60 million, from which the Company may draw down a maximum of 12 times prior to the Maturity Date (as defined below) of the Line of Credit.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886799/000149315224010514/0001493152-24-010514-index.htm
- Material Agreements
  Bright Green Corp entered into Settlement Agreement with the Sellers, Alterola, and United (effective 2024-03-13).
  - Action: entry
  - Agreement: settlement
  - Counterparty: the Sellers, Alterola, and United
  - Effective: 2024-03-13
  source text: On March 13, 2024, the Company entered into a settlement agreement and release (the “Settlement Agreement”) with the Sellers, Alterola, and United, pursuant to which, among other things, the Company agreed to transfer 118,535,168 Alterola Shares to United and transfer an aggregate of 83,226,820 Alterola Shares, in the proportion of 27,742,273 shares to each of Equipped, Phyto and TPR.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886799/000149315224010514/0001493152-24-010514-index.htm
- Material Agreements
  Bright Green Corp entered into Credit Agreement with JVR Holdings valued at $60 million (effective 2024-03-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JVR Holdings
  - Value: $60 million
  - Effective: 2024-03-14
  source text: On March 14, 2024, Bright Green Corporation, a Delaware corporation (“Company”) entered into a credit agreement (the “Credit Agreement”) with JVR Holdings (the “Lender”), pursuant to which the Lender agreed to provide the Company with a line of credit facility (the “Line of Credit”) up to a maximum amount of $60 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1886799/000149315224010514/0001493152-24-010514-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.