Aspen Group amends credit facility, extends maturity to Nov 2022, borrows $5M at 12%

ASPEN GROUP, INC.

Extended $5M revolving credit facility maturity from March 2019 to November 4, 2022.
Borrowed full $5M on Sept 1, 2021; interest rate 12% per annum payable monthly.
Issued warrants to lender for 50,000 shares at $5.85 per share, exercisable for 5 years.
Loan secured by deposit accounts, receivables of Aspen University and U.S. University, and subsidiary stock.

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