EBET, Inc.: debt financing — EBET increases revolving credit facility to $11M; acknowledges default from arbitration award

EBET, Inc.

On April 12, 2024, EBET amended credit agreement with CP BF Lending, increasing revolving loan cap from $6.5M to $11M.
Company acknowledged a termination event under forbearance agreement due to Jan 2024 arbitration award; lender waived until June 17, 2024.
Revolving advances at lender's sole discretion; company remains in default under original credit agreement.
Forbearance period extended to June 30, 2025, but subject to acceleration upon further termination events.

item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

EBET, Inc. incurred revolving credit of $11.0 million with CP BF Lending, LLC.

Instrument: revolving credit
Principal: $11.0 million
Counterparty: CP BF Lending, LLC
Event: incurrence

Exact text from the filing

the parties entered into a Fourth Amendment to Credit Agreement ("Amendment") pursuant to which, among other items, the maximum available amount of the Revolving Loan was increased to $11.0 million.

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Source: SEC EDGAR

accession 0001683168-24-002511

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