share_log

Ault Alliance | 8-K: Current report

SEC announcement ·  Jun 6 04:32
Summary by Futu AI
On June 4, 2024, Ault Alliance, Inc., a Delaware-based corporation, entered into a significant financial agreement with OREE Lending Company, LLC and Helios Funds LLC. The agreement established an unsecured, non-revolving credit facility allowing Ault Alliance to access up to $20 million in funding, with a restriction that no more than $2 million can be outstanding at any given time. An initial advance of $1.5 million was made to Ault Alliance on the execution date of the agreement. The loan is set to mature on December 4, 2024, with a provision for extension to June 4, 2025, if certain conditions regarding an equity line of credit agreement are met. The loan carries a 15% annual interest rate and includes a 20% original issuance discount. Milton C. Ault, the Executive Chairman of Ault Alliance, has provided a personal guarantee for the obligations under the credit agreement. The details of the loan agreement and guarantee were attached as exhibits to the company's Form 8-K filed with the SEC.
On June 4, 2024, Ault Alliance, Inc., a Delaware-based corporation, entered into a significant financial agreement with OREE Lending Company, LLC and Helios Funds LLC. The agreement established an unsecured, non-revolving credit facility allowing Ault Alliance to access up to $20 million in funding, with a restriction that no more than $2 million can be outstanding at any given time. An initial advance of $1.5 million was made to Ault Alliance on the execution date of the agreement. The loan is set to mature on December 4, 2024, with a provision for extension to June 4, 2025, if certain conditions regarding an equity line of credit agreement are met. The loan carries a 15% annual interest rate and includes a 20% original issuance discount. Milton C. Ault, the Executive Chairman of Ault Alliance, has provided a personal guarantee for the obligations under the credit agreement. The details of the loan agreement and guarantee were attached as exhibits to the company's Form 8-K filed with the SEC.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Doc 3

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.