Loan & DebtMay 7, 2026, 04:23 PM
Wellgistics enters forbearance for $1.77M debt
AI Summary
Wellgistics, LLC, a subsidiary of Wellgistics Health, Inc., entered into a Forbearance Agreement with Marco Capital, Inc. on May 1, 2026, acknowledging an outstanding debt of approximately $1.77 million. Marco Capital agreed to temporarily forbear from exercising its rights and remedies until June 15, 2026. The agreement mandates bi-weekly payments of $50,000 and requires a portion of future financing proceeds to be applied to the debt, which accrues interest at Term SOFR plus 11.5%.
Key Highlights
- Wellgistics acknowledged $1,766,131.54 in outstanding debt to Marco Capital, Inc.
- Marco Capital agreed to temporarily forbear from exercising remedies until June 15, 2026.
- Wellgistics will make bi-weekly payments of $50,000, starting May 5, 2026.
- The outstanding debt accrues interest at Term SOFR plus 11.5% per annum from May 5, 2026.
- A portion of net proceeds from future financing transactions (10-30%) must be applied to the debt.
- The entire unpaid balance is due by June 15, 2026, or upon receipt of financing proceeds.
- Wellgistics Health, Inc. and certain management members reaffirmed guaranty obligations.
Price Impact
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