Item 1.01. Entry into a Material Definitive Agreement.
Secured Revolving Borrowing
On
The amendment, among other things, (i) increases the amount in which LSQ may
elect to purchase up to
In addition to the Amendment, the Company simultaneously entered into an Amended
Inventory Financing Addendum (the "Addendum") with LSQ. The Addendum allows the
Company to request an advance up to the lesser of (i) 100% of the Company's
unpaid finished goods inventory; (ii) 65% of the appraised value of the
Company's inventory performed on or on behalf of LSQ; or (iii)
The Amendment and the Addendum are filed herewith as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference, and the foregoing descriptions are qualified in their entirety by the terms contained therein.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 8.01. Other Events.
On
Item 9.01. Financial Statements and Exhibits.
Exhibit Number Description 10.1 Amendment No. 2 dated as ofJanuary 7, 2020 , to Invoice Purchase Agreement datedMarch 24, 2017 10.2 Amended Inventory Financing Addendum, dated as ofJanuary 6, 2020 , to Invoice Purchase Agreement datedMarch 24, 2017 99.1 Press release datedJanuary 9, 2020
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