secwatch.observer — SEC 8-K summary
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Issuer:     Riot Platforms, Inc. (RIOT)
CIK:        0001167419
Form:       8-K
Filed at:   2025-04-25T23:59:59+00:00
Accession:  0001558370-25-005568
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Riot Platforms enters $100M bitcoin-collateralized credit facility with Coinbase Credit
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- Secured term loan up to $100M, collateralized by bitcoin, USDC, and cash held at Coinbase Custody Trust.
- Interest rate is greater of fed funds upper limit or 3.25% plus 4.50% margin; 4.75% during second deleveraging.
- Maturity 364 days from April 22, 2025, extendable by 364 days with lender consent; upfront fee 1% ($1M).
- Voluntary prepayment min $5M with early termination fees; mandatory prepayment on change of control or LTV breach.
- Loan available in up to three drawdowns within two months; proceeds for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1167419/000155837025005568/0001558370-25-005568-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1167419/000155837025005568/riot-20250422x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-005568

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