secwatch.observer — SEC 8-K summary
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Issuer:     AQUABOUNTY TECHNOLOGIES INC (AQB)
CIK:        0001603978
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001603978-24-000028
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603978/000160397824000028/0001603978-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603978/000160397824000028/aqb-20240418x8k.htm
  HTML page:      https://secwatch.observer/filing/0001603978-24-000028

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