debt
confidence high
sentiment neutral
materiality 0.50
NIMS guarantees $1M Gravitics bridge loan with 50% OID, effective upon RTO closing
NON INVASIVE MONITORING SYSTEMS INC /FL/
- Gravitics Inc. borrowed $1,000,000 from BZH SPO LLC on Aug 17, 2026; loan funded Aug 18, 2026.
- Note matures 60 days after funding; 4% interest per 30-day period plus 50% original issue discount per 30-day period.
- NIMS unconditionally guarantees and assumes Gravitics' loan obligations jointly and severally, effective only upon RTO/merger closing.
- Loan proceeds for working capital pending offering; mandatory prepayment from offering or customer-contract proceeds.
- Default premium of 3% per 30-day period accrues after day 60; default includes abandoning the RTO or government contract.