Loan & DebtJul 31, 2026, 04:14 PM
PowerCompute Secures $18M Bridge Loan, Extends $1.125M Debt
AI Summary
PowerCompute, Inc., a subsidiary of LM Funding America, Inc., secured an $18 million bridge loan from Arch Lending through its wholly-owned subsidiary US Digital Mining and Hosting Co, LLC. This loan was utilized to fully repay existing $18 million indebtedness to Galaxy Digital LLC and DE & AJ Liebel Limited Partnership. Additionally, the company extended the maturity date of a $1.125 million loan from Brown Family Enterprises, LLC to December 31, 2026.
Key Highlights
- PowerCompute secured an $18 million bridge loan from Arch Lending.
- Loan proceeds repaid $18 million debt to Galaxy Digital and DE & AJ Liebel.
- Bridge loan matures July 31, 2026, with interest at Applicable Federal Rate.
- Default interest rate on the bridge loan is 15% per annum.
- Company expects bridge loan extension via a secured term loan facility.
- Maturity date of $1.125 million loan from Brown Family Enterprises extended to December 31, 2026.
Price Impact
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