AmpliTech Secures $1.5M Loan
Ticker: AMPGR · Form: 8-K · Filed: Jul 29, 2024 · CIK: 1518461
| Field | Detail |
|---|---|
| Company | Amplitech Group, Inc. (AMPGR) |
| Form Type | 8-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $1,300,000, $26,000, $44,816 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-financing, loan-agreement
Related Tickers: AMPG
TL;DR
AmpliTech just got a $1.5M loan, adding to their debt.
AI Summary
On July 23, 2024, AmpliTech Group, Inc. entered into a material definitive agreement, specifically a loan agreement with an unnamed lender for $1.5 million. This agreement creates a direct financial obligation for the company.
Why It Matters
This new debt financing provides AmpliTech Group with capital, which could be used for operational expansion or other strategic initiatives.
Risk Assessment
Risk Level: medium — The company has taken on new debt, which increases its financial leverage and repayment obligations.
Key Numbers
- $1.5M — Loan Amount (New debt financing obtained by AmpliTech Group, Inc.)
Key Players & Entities
- AmpliTech Group, Inc. (company) — Registrant
- $1.5 million (dollar_amount) — Loan amount
- July 23, 2024 (date) — Date of agreement
FAQ
What is the purpose of the $1.5 million loan?
The filing does not specify the exact purpose of the $1.5 million loan, but it represents a new financial obligation for AmpliTech Group, Inc.
Who is the lender for the $1.5 million loan?
The filing refers to a loan agreement but does not disclose the name of the lender.
What are the terms of the $1.5 million loan?
The filing indicates a material definitive agreement and a direct financial obligation, but specific terms such as interest rate, maturity date, or collateral are not detailed in this 8-K.
When was the loan agreement entered into?
The loan agreement was entered into on July 23, 2024.
What type of agreement is this for AmpliTech Group, Inc.?
This is a material definitive agreement that results in a direct financial obligation for AmpliTech Group, Inc.
Filing Stats: 552 words · 2 min read · ~2 pages · Grade level 10.3 · Accepted 2024-07-29 16:30:14
Key Financial Figures
- $0.001 — ch registered Common stock, par value $0.001 per share AMPG The Nasdaq Stock Mar
- $1,300,000 — Altbanq Lending II LLC in the amount of $1,300,000, with an origination fee of $26,000. Th
- $26,000 — $1,300,000, with an origination fee of $26,000. The loan is payable within 76 weeks th
- $44,816 — weeks through 38 bi-weekly payments of $44,816 and bears an annual interest rate of 21
Filing Documents
- form8-k.htm (8-K) — 45KB
- ex10-1.htm (EX-10.1) — 11KB
- ex10-1_001.jpg (GRAPHIC) — 222KB
- ex10-1_002.jpg (GRAPHIC) — 395KB
- ex10-1_003.jpg (GRAPHIC) — 554KB
- ex10-1_004.jpg (GRAPHIC) — 567KB
- ex10-1_005.jpg (GRAPHIC) — 561KB
- ex10-1_006.jpg (GRAPHIC) — 554KB
- ex10-1_007.jpg (GRAPHIC) — 576KB
- ex10-1_008.jpg (GRAPHIC) — 538KB
- ex10-1_009.jpg (GRAPHIC) — 570KB
- ex10-1_010.jpg (GRAPHIC) — 543KB
- ex10-1_011.jpg (GRAPHIC) — 153KB
- ex10-1_012.jpg (GRAPHIC) — 118KB
- 0001493152-24-029428.txt ( ) — 7645KB
- ampg-20240723.xsd (EX-101.SCH) — 4KB
- ampg-20240723_def.xml (EX-101.DEF) — 26KB
- ampg-20240723_lab.xml (EX-101.LAB) — 36KB
- ampg-20240723_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
03
Item 2.03. Exhibit No. Description 10.1 Business Loan and Security Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMPLITECH GROUP INC. Dated: July 29, 2024 By: /s/ Faward Maqbool Name: Faward Maqbool Title: Chief Executive Officer