---
schema_version: "secwatch.filing_event.v1"
accession: "0001603978-24-000028"
form_type: "8-K"
ticker: "AQB"
cik: "0001603978"
company_name: "AQUABOUNTY TECHNOLOGIES INC"
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T16:05:03.341166+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AquaBounty secures $10M secured term loan from JMB Capital at 15% interest, maturing July 31, 2024

## Summary
- Initial $5M advanced April 18; additional $5M subject to conditions; maturity July 31, 2024.
- Interest at 15% per annum, 5% commitment fee, 8% exit fee; default rate adds 5%.
- Proceeds used to repay ~$2.84M First Farmers loan and fund working capital.
- Collateral includes Indiana and Ohio farms and substantially all other assets.
- Loan is secured by first-priority liens on all present and after-acquired assets of borrowers.

## SEC filing metadata
- accession: 0001603978-24-000028
- form_type: 8-K
- ticker: AQB
- cik: 0001603978
- company_name: AQUABOUNTY TECHNOLOGIES INC
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1603978/000160397824000028/0001603978-24-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1603978/000160397824000028/aqb-20240418x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001603978-24-000028
- JSON: https://secwatch.observer/filing/0001603978-24-000028.json
- Plain text: https://secwatch.observer/filing/0001603978-24-000028.txt

## Key facts
- Debt Financings
  AQUABOUNTY TECHNOLOGIES INC incurred term loan of up to $10 million with JMB Capital Partners Lending, LLC at 15% maturing July 31, 2024.
  - Instrument: term loan
  - Principal: up to $10 million
  - Counterparty: JMB Capital Partners Lending, LLC
  - Rate: 15%
  - Maturity: July 31, 2024
  - Event: incurrence
  source text: and Security agreement (the “Loan Agreement”) with JMB Capital Partners Lending, LLC (the “Lender”) to fund working capital of the Borrowers through a secured term loan of up to $10 million (the “Loan”) that matures on July 31, 2024 or, if earlier, upon the sale of certain collateral or upon an Event of Default (as defined therein) (the “Stated Maturity Date”). $5
  evidence_url: https://www.sec.gov/Archives/edgar/data/1603978/000160397824000028/0001603978-24-000028-index.htm
- Material Agreements
  AQUABOUNTY TECHNOLOGIES INC entered into Loan and Security agreement with JMB Capital Partners Lending, LLC valued at $10 million (effective 2024-04-18).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JMB Capital Partners Lending, LLC
  - Value: $10 million
  - Effective: 2024-04-18
  source text: Inc. (the “Company”), AquaBounty Farms, Inc. (the “Parent”), which is a subsidiary of the Company, AquaBounty Farms Indiana LLC (“ABFI”), a subsidiary of the Parent, and AquaBounty Farms Ohio LLC (“ABFO” and, together with the Company, the Parent and ABFI, the “Borrowers”), a subsidiary of the Parent, entered into a Loan and Security agreement (the “Loan Agreement”) with JMB Capital Partners Lending, LLC (the “Lender”) to fund working capital of the Borrowers through a secured term loan of up to $10 million (the “Loan”) that matures on July 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1603978/000160397824000028/0001603978-24-000028-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.