secwatch.observer — SEC 8-K summary
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Issuer:     EBET, Inc. (—)
CIK:        0001829966
Form:       8-K
Filed at:   2023-09-19T23:59:59+00:00
Accession:  0001683168-23-006549
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EBET extends forbearance on defaulted $30M loan to Oct 31; pays $90K fee
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- Principal outstanding on term loan: $26,361,567.82 after capitalizing $90K forbearance fee.
- Revolving credit line of $2.0M (discretionary) has $1.4M drawn as of amendment date.
- Forbearance period extended from Sept 15 to Oct 31, 2023; lender reserves right to accelerate after that.
- Company remains in default and acknowledges lender's immediate right to accelerate obligations.
- Previous forbearance fee of 50 bps plus $2M prepayment made June 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823006549/0001683168-23-006549-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829966/000168316823006549/ebet_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-006549

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer