Sadot Group amends convertible note terms, schedules $1.05M principal repayment with 8% premium

Sadot Group Inc.

Three monthly payments of $350,000 principal due May 1, June 1, and July 1, 2024, plus 6% interest and 8% payment premium.
During period through August 1, 2024, investor suspends conversion rights at floor price or exchange cap triggers unless conversion at Fixed Price or company consents.
Second Note of $1,000,000 fully repaid; outstanding balance on First Note is $2,650,000.
Total cash outlay over three months approximately $1.174M including interest ($39,632.88) and premium ($84,000).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sadot Group Inc. amended Standby Equity Purchase Agreement with YA II PN, Ltd. valued at Amended terms of remaining outstanding Note: payments of $350,000 plus 8% premium and accrued intere (effective 2024-04-10).

Action: amendment
Agreement: equity purchase
Counterparty: YA II PN, Ltd.
Value: Amended terms of remaining outstanding Note: payments of $350,000 plus 8% premium and accrued intere
Effective: 2024-04-10

Exact text from the filing

On April 10, 2024, the Company and the Investor entered into a letter agreement (the “ Letter Agreement ”) to amend the terms of the remaining outstanding Note providing that the Company will make payments on May 1, 2024, June 1, 2024 and July 1, 2024 each in the principal amount of $350,000 plus an 8% payment premium and accrued interest. During the period through August 1, 2024, the Investor agreed that the application of any monthly payments that may become due and payable pursuant to Section 1(c) of the Notes (i.e., as a result of a Floor Price Trigger, or Exchange Cap Trigger) shall be suspended and the Investor shall not effect any Investor Notices of Conversions Notices, unless the Conversion Price is equal to the Fixed Price as such terms are defined in the SEPA, or with the consent of the Company.

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Source: SEC EDGAR

accession 0001701756-24-000081

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