Mill City Ventures III terminates loan agreement with Eastman Investments and Berman Trust

SUI Group Holdings Ltd.

On January 22, 2024, Mill City, Eastman Investments, and Lyle A. Berman Revocable Trust terminated the January 3, 2022 Loan and Security Agreement.
Termination effective January 1, 2024; Mill City had satisfied all payment obligations under the agreement.
Mill City terminated because it does not anticipate needing the liquidity provided by the loan in the near future.
Lyle A. Berman, trustee of the Trust, is a director of Mill City.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SUI Group Holdings Ltd. terminated Loan and Security Agreement with Eastman Investments, Inc. and Lyle A. Berman, as trustee of the Lyle A. Berman Revocable Trust (collectively, the "Lenders") (effective 2024-01-01).

Action: termination
Agreement: credit facility
Counterparty: Eastman Investments, Inc. and Lyle A. Berman, as trustee of the Lyle A. Berman Revocable Trust (collectively, the "Lenders")
Effective: 2024-01-01

Exact text from the filing

On January 22, 2024, Mill City Ventures III, Ltd. (“Mill City”), Eastman Investments, Inc., a Nevada corporation (“Eastman”), and Lyle A. Berman, as trustee of the Lyle A. Berman Revocable Trust (the “Trust,” and referred to collectively with Eastman as the “Lenders”), terminated the Loan and Security Agreement that the parties had entered into on January 3, 2022 (the “Loan and Security Agreement”).

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Source: SEC EDGAR

accession 0001654954-24-000890

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