debt
confidence high
sentiment positive
materiality 0.50
NeoVolta secures $5M line of credit at 16% interest, no equity component
NeoVolta Inc.
- Line of credit up to $5M from National Energy Modelers, Inc., matures September 2026.
- Interest at 16% per annum, monthly payments of accrued interest; principal and unpaid interest due at maturity.
- Company granted security interest in all assets; agreed not to use S-3 shelf without lender consent to avoid dilution.
- CFO Steve Bond states LOC strengthens financial position and preserves shareholder equity.