secwatch.observer — SEC 8-K summary
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Issuer:     Superior Drilling Products, Inc. (—)
CIK:        0001600422
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001493152-24-012540
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SDPI amends Tronco loan: first payment deferred to Sep 30, 2024; merger-triggered acceleration remains
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- Principal unchanged at $6,567,331; interest rate 2.8% per annum; annual $750k payments through 2033.
- First payment deferred from March 31, 2024 to September 30, 2024.
- If DTI merger closes, all accrued interest becomes due on closing date; principal terms otherwise unchanged.
- Acceleration triggers: if SDPI stock ≥$3/share for 10-day average, 50% of balance due; ≥$4/share, full balance due.
- Loan guaranteed by CEO G. Troy Meier and COO Annette Meier individually and as trustees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1600422/000149315224012540/0001493152-24-012540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1600422/000149315224012540/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-012540

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer