ENGLOBAL CORP: debt financing — ENGlobal enters $500K loan at 12% interest, maturing March 5, 2025

ENGLOBAL CORP

Multi-draw facility up to $500K, 12% per annum interest, principal and interest due at maturity on March 5, 2025.
Loan secured by first-priority security interest on substantially all assets of ENGlobal and its three guarantor subsidiaries.
Guarantors: ENGlobal U.S., ENGlobal Government Services, and ENGlobal Technologies, jointly and severally guarantee obligations.
Negative covenants restrict incurring additional debt, mergers, asset sales, dividends, and affiliate transactions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

ENGLOBAL CORP incurred credit facility of up to an aggregate principal amount of $500,000 with unaffiliated party at 12.0% per annum maturing March 5, 2025.

Instrument: credit facility
Principal: up to an aggregate principal amount of $500,000
Counterparty: unaffiliated party
Rate: 12.0% per annum
Maturity: March 5, 2025
Event: incurrence

Exact text from the filing

On February 19, 2025, ENGlobal Corporation, a Nevada corporation (the “ Company ”), entered into a Loan and Security Agreement (the “ Loan Agreement ”) with an unaffiliated party (“ Lender ”), pursuant to which Lender has agreed, subject to certain terms and conditions, to extend up to an aggregate principal amount of $500,000 to the Company.

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Source: SEC EDGAR

accession 0001654954-25-001796

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