LIVE VENTURES Inc (LIVE): debt financing — Live Ventures subsidiary Vintage Stock enters $15M credit agreement with Bank Midwest, replacing prior facility

LIVE VENTURES Inc

Vintage Stock (wholly owned subsidiary) entered $15M revolving credit with Bank Midwest on Oct 17, 2023.
Interest at SOFR + 2.36% per annum, floor 6.50%; matures Oct 17, 2024.
Monthly payments begin Dec 1, 2023; all principal and interest due at maturity.
Prior revolving credit facility with Texas Capital Bank terminated upon closing.
Credit secured by substantially all of Vintage Stock's personal property, including inventory and accounts.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LIVE VENTURES Inc incurred revolving credit of $15.0 million with Bank Midwest, a division of NBH BANK at the greater of (a) the one-month forward-looking term rate based on SOFR, plus 2 maturing October 17, 2024.

Instrument: revolving credit
Principal: $15.0 million
Counterparty: Bank Midwest, a division of NBH BANK
Rate: the greater of (a) the one-month forward-looking term rate based on SOFR, plus 2
Maturity: October 17, 2024
Event: incurrence

Exact text from the filing

On October 17, 2023 (the “Closing Date”), Vintage Stock, Inc. (“Vintage Stock”), a Missouri corporation and wholly owned indirect subsidiary of Live Ventures Incorporated, a Nevada corporation, entered into a $15.0 million credit agreement (the “Credit Agreement”) with Bank Midwest, a division of NBH BANK (the “Lender”), replacing a revolving credit facility between Vintage Stock and Texas Capital Bank, which was entered into in November 2016 and set to mature in November 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LIVE VENTURES Inc entered into Credit Agreement with Bank Midwest, a division of NBH BANK valued at $15.0 million (effective 2023-10-17).

Action: entry
Agreement: credit facility
Counterparty: Bank Midwest, a division of NBH BANK
Value: $15.0 million
Effective: 2023-10-17

Exact text from the filing

On October 17, 2023 (the “Closing Date”), Vintage Stock, Inc. (“Vintage Stock”), a Missouri corporation and wholly owned indirect subsidiary of Live Ventures Incorporated, a Nevada corporation, entered into a $15.0 million credit agreement (the “Credit Agreement”) with Bank Midwest, a division of NBH BANK (the “Lender”), replacing a revolving credit facility between Vintage Stock and Texas Capital Bank, which was entered into in November 2016 and set to mature in November 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LIVE VENTURES Inc terminated a credit facility with Texas Capital Bank (effective 2023-10-17).

Action: termination
Agreement: credit facility
Counterparty: Texas Capital Bank
Effective: 2023-10-17

Exact text from the filing

In connection with the entry into the Credit Agreement, the revolving credit facility between Vintage Stock and Texas Capital Bank was terminated.

View on SEC.gov

Browse all debt financings →

LIVE VENTURES Inc filing history →

Source: SEC EDGAR

accession 0001628280-23-034910

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.