Aterian Inc.
08/29/2025 | Press release | Distributed by Public on 08/29/2025 15:27
Material Agreement (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
On August 29, 2025, the Company entered into Amendment No. 4 (the "Amendment") to the Credit and Security Agreement dated as of December 22, 2021 (the "Credit Agreement") between the Company, together with certain of its subsidiaries party thereto as borrowers, the entities party thereto as lenders, and Midcap Funding IV Trust, as administrative agent. Material changes contained in the Amendment are as follows:
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a)
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Reduced the Minimum Credit Party Liquidity covenant to $5.0 million, effective as of the Fourth Amendment Effective Date and continuing during the Minimum Liquidity Covenant Reduction Period.
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b)
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Provided that, upon the Company's delivery of a Liquidity Certificate evidencing liquidity of at least $6.8 million, the Minimum Liquidity Covenant Reduction Period will terminate and the covenant will increase to $6.8 million thereafter.
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c)
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Established an Availability Reserve of $2.8 million during the Minimum Liquidity Covenant Reduction Period and $1.0 million thereafter.
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Capitalized terms used herein not otherwise defined shall have the meaning in the Credit Agreement.
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