Loan & DebtJun 18, 2026, 04:17 PM
Motorsport Games Amends Loan Agreement, Extends Promissory Note Maturity
AI Summary
Motorsport Games Inc. entered into an Amendment to Business Loan Agreement and an Amendment to Promissory Note with Citibank, N.A. on June 15, 2026. The amendments modify an affirmative covenant by revising the definition of Fixed Charge Coverage Ratio to include cash interest expenses in the denominator. Additionally, the maturity date of the promissory note was extended by one year, from February 20, 2027, to February 20, 2028.
Key Highlights
- Motorsport Games amended its Business Loan Agreement with Citibank, N.A. on June 15, 2026.
- The amendment revises the definition of Fixed Charge Coverage Ratio, adding cash interest expenses to the denominator.
- The Promissory Note's maturity date was extended from February 20, 2027, to February 20, 2028.
- The original Business Loan Agreement and Promissory Note were dated February 20, 2026.
Price Impact
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