debt
confidence high
sentiment negative
materiality 0.75
Noble Roman's amends loan: maturity extended to June 2026, interest to SOFR+9%, warrants repriced
NOBLE ROMANS INC
- Maturity of $8M senior secured note extended from April 14, 2025 to June 30, 2026.
- Cash interest rate changed to SOFR+9% with 4.25% floor; 3% PIK interest discontinued.
- Monthly principal payments increased to $91,667 from $83,333, starting April 30, 2025.
- Existing warrant exercise price reduced from $0.30 to $0.10; new warrant for 750k shares at $0.10.
- Contingent additional warrants: 500k if note not redeemed by Aug 14, 2025, plus 250k per month thereafter.