secwatch.observer — SEC 8-K summary
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Issuer:     urban-gro, Inc. (UGRO)
CIK:        0001706524
Form:       8-K
Filed at:   2025-03-21T23:59:59+00:00
Accession:  0001706524-25-000023
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban-Gro amends $10M credit line with Gemini; extends draw to Jan 2026, interest 1.75%/mo, issues 150k shares as fee
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- Waived potential defaults on missed Feb 2025 interest payment and accounts receivable covenant through April 15, 2025.
- Interest rate increased to 1.75% per month (approx. 21% annualized) on outstanding principal.
- Draw period under $10M revolving facility extended to January 1, 2026.
- New covenant: eligible accounts receivable must equal or exceed 125% of drawn amounts plus interest, measured monthly from April 15.
- Issued 150,000 shares of common stock to Gemini as non-refundable amendment fee (unregistered, accredited investor).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706524/000170652425000023/0001706524-25-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706524/000170652425000023/ugro-20250318.htm
  HTML page:      https://secwatch.observer/filing/0001706524-25-000023

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