secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN REBEL HOLDINGS INC (AREB)
CIK:        0001648087
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001493152-24-013036
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AREB secures $1.3M secured loan at 22.8% and sells $100K revenue interest with monthly payouts
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- $1.3M loan from Altbanq LLC netted $504,772 after repaying two existing notes totaling $769,228.
- Loan requires 64 weekly payments of $26,000 each; total repayment $1.664M; CEO provides personal guarantee.
- Revenue interest sold to Christopher Andrew Crews for $100,000; monthly payments of $10,000 begin June 2024.
- Repurchase options: call/put at $140K (before June) or $154K (after June), minus payments made.
- Loan default includes $15,000 late fee; event of default triggers 25% penalty on repurchase price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1648087/000149315224013036/0001493152-24-013036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1648087/000149315224013036/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-013036

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