secwatch.observer — SEC 8-K summary
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Issuer:     Clean Energy Technologies, Inc. (CETY)
CIK:        0001329606
Form:       8-K
Filed at:   2024-06-26T23:59:59+00:00
Accession:  0001493152-24-025276
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clean Energy Technologies subsidiary VRG enters $12M loan agreement with FPM Development and Evergreen Credit Facility
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- VRG borrowed $12M from FPM Development LLC and Evergreen Credit Facility I LLP, secured by two VRG contracts and a corporate guarantee from CETY.
- Loan term is two years, interest at 12-month SOFR plus 4.75% per annum.
- Lenders may convert up to 30% of loan principal into CETY common stock at a 15% discount to market price.
- AMEC Business Advisory may assume up to 50% of loan and has option to convert an extra 10% of loan amount into CETY shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1329606/000149315224025276/0001493152-24-025276-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1329606/000149315224025276/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-025276

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