debt
confidence high
sentiment negative
materiality 0.80
Dalrada Technology Group receives default notice; $500K cure payment due May 1
Dalrada Technology Group, Inc.
- Notice declares defaults under Term Loan Agreement (July 2023), four Loan/Security Agreements (Feb-Apr 2024), and Factoring Loan (Feb 2025) due to missed payments.
- Lender demands $500,000 cure payment by May 1, 2026; non-payment will result in acceleration of loan balances and enforcement actions.
- Lenders are Nautilus Parent Holdings (term) and Nautilus Funding Solutions – Series XIII (factoring).
- Company intends to engage in discussions but no assurance defaults will be cured or loans not accelerated.