secwatch.observer — SEC 8-K summary
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Issuer:     GIFTIFY, INC. (GIFT)
CIK:        0001760233
Form:       8-K
Filed at:   2025-04-25T23:59:59+00:00
Accession:  0001641172-25-006147
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Giftify subsidiary CardCash amends credit facility, new $7M promissory note with Pathward
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- Second amended promissory note reduces principal to $7M from original $10M; interest rate prime+3% with 6.50% floor.
- Minimum cash collateral balance lowered from $1.25M to $1M, releasing $250K to CardCash.
- Further reduction to $750K possible if CardCash net income reaches $250K for September 2025 month.
- Exit fee of 0.50% of $7M applies if agreement terminated before December 31, 2025.
- Blanket lien on CardCash assets remains; Giftify reaffirms its guaranty of the obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760233/000164117225006147/0001641172-25-006147-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760233/000164117225006147/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-006147

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