Arena Group Holdings, Inc. (AREN): debt financing — Arena Group enters into $25M loan agreement with Simplify Inventions at 10% interest; repays existing SLR facility

Arena Group Holdings, Inc.

Initial borrowing of $7.7M under $25M Simplify Loan; $3.4M used to repay and terminate existing SLR Digital Finance LLC FSA.
Loan bears 10% interest per annum, matures March 13, 2026; secured by assets of Company and subsidiaries.
Remaining $4.3M from initial draw used for working capital and general corporate purposes.
Loan provides up to $25M in additional borrowing capacity for working capital.

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

Arena Group Holdings, Inc. incurred loan of up to $25 million with Simplify Inventions, LLC at 10% per annum maturing March 13, 2026.

Instrument: loan
Principal: up to $25 million
Counterparty: Simplify Inventions, LLC
Rate: 10% per annum
Maturity: March 13, 2026
Event: incurrence

Exact text from the filing

On March 13, 2024, The Arena Group Holdings, Inc. (the “Company”) entered into a loan agreement (the “Loan Agreement”), by and between the Company and Simplify Inventions, LLC (the “Simplify Loan”), which will provide for up to $25 million of borrowings to be used for working capital and general corporate purposes. The Simplify Loan bears interest at a rate of 10% per annum, payable monthly in arrears unless otherwise demanded by the lender, and will mature on March 13, 2026.

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

Arena Group Holdings, Inc. entered into Loan Agreement with Simplify Inventions, LLC valued at up to $25 million (effective 2024-03-13).

Action: entry
Agreement: credit facility
Counterparty: Simplify Inventions, LLC
Value: up to $25 million
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, The Arena Group Holdings, Inc. (the “Company”) entered into a loan agreement (the “Loan Agreement”), by and between the Company and Simplify Inventions, LLC (the “Simplify Loan”), which will provide for up to $25 million of borrowings to be used for working capital and general corporate purposes.

View on SEC.gov

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

Arena Group Holdings, Inc. terminated FSA with SLR Digital Finance LLC (effective 2024-03-13).

Action: termination
Agreement: credit facility
Counterparty: SLR Digital Finance LLC
Effective: 2024-03-13

Exact text from the filing

ees and contingency reserves under its financing and security agreement dated February 2020 (as amended, the “FSA”) with SLR Digital Finance LLC (“SLR”). The FSA between the Company and SLR was simultaneously terminated.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Arena Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-010529

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