secwatch.observer — SEC 8-K summary
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Issuer:     Koil Energy Solutions, Inc. (KLNG)
CIK:        0001110607
Form:       8-K
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001683168-23-003716
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Koil Energy signs factoring agreement with Amegy Bank; receivables sold at 15-25% discount, interest Prime+2%
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- Invoices sold at 15% discount (time & materials) or 25% (milestone billing) of gross invoice amount.
- Variable discount amount based on WSJ Prime + 2% (floor 8%) per annum on purchase price.
- Receivables not paid within 90 days trigger charge-back and repurchase obligation by Koil.
- Agreement grants Amegy security interest in all present and future assets of Koil.
- Minimum monthly discount fee of $1,000; $5,000 documentary fee deducted from first schedule.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1110607/000168316823003716/0001683168-23-003716-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1110607/000168316823003716/koil_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-003716

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