secwatch.observer — SEC 8-K summary
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Issuer:     Loop Media, Inc. (—)
CIK:        0001643988
Form:       8-K
Filed at:   2025-03-31T23:59:59+00:00
Accession:  0001641172-25-001388
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Loop Media enters $800K subordinated loan with Agile Capital; refinances prior debt
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- $800,000 loan from Agile Capital; $157,417.50 used to repay Oct 2024 loan, $602,582.50 net for operations.
- Weekly payments of $37,066.67, 30-week maturity on Oct 23, 2025; prepayment options with discounts.
- Loan subordinated to future senior debt; security interest on assets but filing only upon default.
- Potential additional $500,000 advance in 4-6 weeks on similar terms (9-month repayment).
- Default rate: contract rate +5%; events of default include material adverse change.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1643988/000164117225001388/0001641172-25-001388-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1643988/000164117225001388/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-001388

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer