Loan & DebtJul 15, 2026, 08:16 AM
Genasys Extends Term Loan Maturity to July 2027; Reduces Warrant Price
AI Summary
Genasys Inc. has amended its Term Loan and Security Agreement, extending the maturity date of its $15.2 million term loan from July 2026 to July 2027. The amendment maintains the interest rate at three-month SOFR plus 5% but introduces a 20% guaranteed minimum return (MOIC) and requires $1 million monthly payments starting October 2026. Concurrently, the company amended its warrant agreement, extending the exercise period to May 2030 and reducing the exercise price to $2.28 per share, aiming to provide financial flexibility for growth.
Key Highlights
- Term loan maturity date extended from July 13, 2026, to July 13, 2027.
- Regular interest rate remains three-month SOFR plus 5%.
- Subject to a guaranteed minimum return (MOIC) of 20%.
- Company to make monthly payments of $1 million starting October 1, 2026.
- Default interest rate raised to 5% above the per annum rate.
- Warrant exercise period extended from May 13, 2029, to May 13, 2030.
- Warrant exercise price reduced from $2.53 per share to $2.28 per share.
- Outstanding principal amount under the term loan is $15,206,812.50.
Price Impact
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