secwatch.observer — SEC 8-K summary
======================================

Issuer:     urban-gro, Inc. (UGRO)
CIK:        0001706524
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001706524-24-000072
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

urban-gro signs ~$12M in cannabis contracts, secures $2.1M loan
---------------------------------------------------------------

- Signed contracts with 15+ clients for ~$12M in cannabis cultivation, extraction, and retail projects across the U.S.
- Revenue from these contracts expected to be largely recognized by end of Q1 2025.
- Entered $2.1M asset-based secured loan from Grow Hill, LLC at 15% interest, 24-month term, with a $100K origination fee.
- Issued warrant to Lender for 160,000 shares at $2.50/share, exercisable immediately for 5 years on cashless basis.
- CEO cites Florida Amendment 3 and new market licenses as catalysts; loan supports growth and cash management.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706524/000170652424000072/0001706524-24-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706524/000170652424000072/ugro-20241001.htm
  HTML page:      https://secwatch.observer/filing/0001706524-24-000072

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