LightPath enters second loan amendment extending maturity to April 2023, increases payments, adds exit fee

LIGHTPATH TECHNOLOGIES INC

Maturity of Term Loan and Revolving Credit extended from Feb 2022 to April 15, 2023; exit fee of 4% on outstanding principal due then.
Monthly payments on Term Loan increase to $100,000 starting November 1, 2022; outstanding principal was ~$4.215M as of amendment date.
Interest rate set to prime minus 50 bps from Dec 20, 2021; rising to default rate from Aug 1, 2022.
Financial covenant compliance waived for quarters ending Dec 2021, Mar 2022, and June 2022; $50,000 restructuring fee paid to BankUnited.
Guidance Line Facility terminated; credit cards to be cancelled by Jan 31, 2022.

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.