debt
confidence high
sentiment neutral
materiality 0.60
LightPath secures $3M bridge note at 12.5% from Lytton-Kambara Foundation
LIGHTPATH TECHNOLOGIES INC
- $3M bridge loan from Lytton-Kambara Foundation at 12.5% interest, maturing Aug 6, 2025.
- Net proceeds of $2.7M after 7% OID ($210k), placement fees, and expenses.
- Prepayment allowed at 105% of principal plus accrued interest; Change-of-Control triggers repayment at 105%.
- Loan proceeds for general business operations.