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Maison Solutions | 8-K: Current report

SEC ·  Oct 26 04:37

Summary by Futu AI

Maison Solutions Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol MSS, filed a Form 8-K with the SEC on October 25, 2024, reporting several significant corporate developments. The company, along with its wholly-owned subsidiary AZLL LLC, completed a series of transactions involving Lee Lee Oriental Supermart, Inc., which has been reorganized into Lee Lee Oriental Supermart, LLC (Lee Lee). This reorganization included a conversion, merger, and division collectively referred to as the 'Lee Lee Reorganization.' On October 21, 2024, Maison Solutions and related parties entered into multiple amendments to their financial agreements to reflect this reorganization. These amendments included changes to the Senior Secured Note Agreement, increasing the interest rate to 10% and adjusting the payment schedule, as well as amendments to the Security Agreement and Guarantees. The company also paid a restructuring fee of $40,000 to the note holders, Meng Truong and Paulina Truong. The amendments waived any defenses or remedies that may arise due to the reorganization, ensuring the enforceability of the agreements post-reorganization.
Maison Solutions Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol MSS, filed a Form 8-K with the SEC on October 25, 2024, reporting several significant corporate developments. The company, along with its wholly-owned subsidiary AZLL LLC, completed a series of transactions involving Lee Lee Oriental Supermart, Inc., which has been reorganized into Lee Lee Oriental Supermart, LLC (Lee Lee). This reorganization included a conversion, merger, and division collectively referred to as the 'Lee Lee Reorganization.' On October 21, 2024, Maison Solutions and related parties entered into multiple amendments to their financial agreements to reflect this reorganization. These amendments included changes to the Senior Secured Note Agreement, increasing the interest rate to 10% and adjusting the payment schedule, as well as amendments to the Security Agreement and Guarantees. The company also paid a restructuring fee of $40,000 to the note holders, Meng Truong and Paulina Truong. The amendments waived any defenses or remedies that may arise due to the reorganization, ensuring the enforceability of the agreements post-reorganization.

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