secwatch.observer — SEC 8-K summary
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Issuer:     Volato Group, Inc. (SOAR)
CIK:        0001853070
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001628280-24-034152
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Volato enters $4M term loan with 165.69% APR; weekly payments of $207k due Jan 2025
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- Term loan of $4M ($3.8M net of $200k origination fee) from TVT Capital Source LLC.
- Total repayment amount of $5.8M ($1.8M interest); 28 weekly payments of $207,142.86 due by Jan 28, 2025.
- APR disclosed as 165.69%; default fee of $2,500; prepayment discount of $800k if repaid within 30 days, $600k within 60 days.
- Company disclosed pending arbitration settlement (~$20k receivable), disputed vendor demand (~$170k), and unresolved Texas tax lien.
- Security interest granted in receivables and personal property, excluding G280 aircraft purchase agreements and related collateral.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853070/000162828024034152/0001628280-24-034152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853070/000162828024034152/soar-20240726.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-034152

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