Digital Ally Secures New Loan Facility
Ticker: KUST · Form: 8-K · Filed: Jul 18, 2024 · CIK: 1342958
Sentiment: neutral
Topics: debt, financing
Related Tickers: ALLY
TL;DR
ALLY just got a new loan, terms TBD.
AI Summary
On July 18, 2024, Digital Ally, Inc. entered into a material definitive agreement, specifically a loan agreement with an unnamed lender. This agreement creates a direct financial obligation for the company, with the terms and specific dollar amounts not fully detailed in this initial filing.
Why It Matters
This filing indicates Digital Ally has secured new financing, which could impact its operational capacity and financial flexibility.
Risk Assessment
Risk Level: medium — The creation of a new financial obligation introduces leverage and repayment risk, though the specific terms are not yet fully disclosed.
Key Players & Entities
- Digital Ally, Inc. (company) — Registrant
- July 18, 2024 (date) — Date of Report
- July 13, 2024 (date) — Earliest Event Reported
FAQ
What is the specific amount of the loan Digital Ally, Inc. has secured?
The specific dollar amount of the loan is not detailed in this initial 8-K filing.
Who is the lender providing the financial obligation to Digital Ally, Inc.?
The identity of the lender is not disclosed in this filing.
What are the key terms and conditions of the new loan agreement?
The material terms and conditions of the loan agreement are not fully detailed in this 8-K filing.
What is the purpose of this new financial obligation for Digital Ally, Inc.?
The purpose of the financial obligation is not specified in this filing.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on July 13, 2024.
Filing Stats: 992 words · 4 min read · ~3 pages · Grade level 11.9 · Accepted 2024-07-18 16:30:27
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value DGLY The Nasdaq Capital M
- $1,425,000 — he " Note ") with a principal amount of $1,425,000. On July 13, 2024, the Company entere
- $1,725,000 — l amount of the Note from $1,425,000 to $1,725,000; provided, however, that if the Borrowe
- $100,000 — Note shall be reduced automatically by $100,000. Pursuant to the Letter Agreement, the
- $150,000 — yment to the Purchaser in the amount of $150,000 on or before July 26, 2024. The Company
- $325,000 — ilding ") and pay to the Purchaser: (i) $325,000, if the Company sells or enters into a
- $400,000 — ng on or before August 7, 2024; or (ii) $400,000, if the Company sells or enters into a
- $200,000 — y to the Purchaser a penalty payment of $200,000 within five Business Days, as defined i
Filing Documents
- form8-k.htm (8-K) — 43KB
- ex10-1.htm (EX-10.1) — 29KB
- 0001493152-24-028346.txt ( ) — 246KB
- dgly-20240718.xsd (EX-101.SCH) — 3KB
- dgly-20240718_lab.xml (EX-101.LAB) — 33KB
- dgly-20240718_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES 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. Date: July 18, 2024 Digital Ally, Inc. By: /s/ Stanton E. Ross Name: Stanton E. Ross Title: Chairman and Chief Executive Officer