Loan & DebtJun 12, 2026, 04:12 PM
Genasys Secures $4.3M Loan at 18% Interest
AI Summary
Genasys Inc. has entered into a $4.3 million unsecured term loan agreement with Maran Partners Fund, LP. The loan bears an 18% annual interest rate and matures on September 14, 2026. Proceeds will fund working capital and general corporate needs. The agreement includes a $301,000 origination fee deducted from the principal and potential exit fees based on repayment timing.
Key Highlights
- Genasys Inc. secured a $4.3 million unsecured term loan from Maran Partners Fund, LP.
- The loan carries an 18% annual interest rate, with a default rate of 23%.
- A $301,000 origination fee was deducted from the loan proceeds.
- The loan matures on September 14, 2026, with monthly interest-only payments.
- An exit fee of $64,500 is due if repaid by July 13, 2026, or $150,500 thereafter.
- Loan proceeds will be used for working capital and general corporate purposes.
Price Impact
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