ALPINE 4 HOLDINGS, INC.: debt financing — Alpine 4 enters $10M revolver with SLR Business Credit and $500k cash advance

ALPINE 4 HOLDINGS, INC.

Revolver up to $10M, interest at Prime+1.5% (floor 9%), 3-year term, secured by AR/inventory.
Alpine 4 guaranteed the revolver; subsidiary DTS granted collateral assignment of trademarks.
Also entered $745k cash advance (future receipts) from AEC GAP for $500k proceeds.
Cash advance requires daily payments; prepayment discounts up to $105k if paid by Jan 26, 2024.
Financing deemed necessary for working capital due to delays in stock sale registration.

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

ALPINE 4 HOLDINGS, INC. incurred credit facility of up to 85% of the aggregate outstanding amount of Eligible Accounts plus the lowest of (i) an amount up to 60% of the agg with North Mill Capital LLC d/b/a SLR Business Credit.

Instrument: credit facility
Principal: up to 85% of the aggregate outstanding amount of Eligible Accounts plus the lowest of (i) an amount up to 60% of the agg
Counterparty: North Mill Capital LLC d/b/a SLR Business Credit
Event: incurrence

Exact text from the filing

of DTI. Loan and Security Agreement with North Mill Capital LLC Under the Loan Agreement, the Lender agreed to provide the Borrower with one or more advances in an amount up to 85% of the aggregate outstanding amount of Eligible Accounts (as defined below) (the “Eligible Accounts Loan Value”); plus the lowest of (i) an amount up to 60% of the aggregate

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Source: SEC EDGAR

accession 0001628280-23-042941

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