Tag Archives: loan agreement

Premier Exhibitions Obtains $5M Loan

PremierExhibitionslogoPremier Exhibitions has filed a required Form 8-K with the U.S. Securities and Exchange Commission detailing the loan agreement. The total loan sum is $5m and requires the company take out $1m before 10 Dec 2015. A second draw of $1m is available upon written notice before 18 Dec 2015. And a third draw of $1m can be obtained before 31 Dec 2015. An additional $2m is available but only at the discretion of the lenders. The unpaid amount accrues a 12% annual interest rate and can be prepaid at any time (but requires you pay 105% of principal amount). Yanzi Gao, agent for the lenders, signed the agreement. According to the papers filed with the agency, the names of the lenders are: Jihe Zhang, High Nature Holdings Limited, and Lange Feng. Repayment is required by 1 Aug 2017.

Sources:
Premier Exhibitions, Form 8K, 9 Dec 2015
Premier Exhibitions, Exhibit A-Form 8K,9 Dec 2015