ParkerVision Secures New Loan Agreement

TL;DR

ParkerVision just signed a new loan agreement, adding a direct financial obligation.

AI Summary

On June 3, 2024, ParkerVision, Inc. entered into a material definitive agreement, specifically a loan and security agreement with an unnamed lender. This agreement creates a direct financial obligation for the company, the terms of which are detailed within the filing.

Why It Matters

This new financial obligation could impact ParkerVision's liquidity and future financial flexibility, potentially affecting its operational capacity and strategic initiatives.

Risk Assessment

Risk Level: medium — The creation of a new financial obligation introduces leverage and repayment terms that could pose risks if the company's financial performance falters.

Key Players & Entities

• ParkerVision, Inc. (company) — Registrant
• June 3, 2024 (date) — Date of earliest event reported
• Florida (location) — State of Incorporation
• 9047326100 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $150,000 — ated June 7, 2019, with a face value of $150,000 held by an accredited investor to exten
• $0.10 — other terms of the note, including the $0.10 conversion price, remain unchanged. In
• $100,000 — uly 18, 2019, each with a face value of $100,000 held by accredited investors, to extend
• $0.08 — other terms of the notes, including the $0.08 conversion price, remain unchanged. T

Filing Documents

• prkr20240605_8k.htm (8-K) — 28KB
• ex_684592.htm (EX-10.1) — 7KB
• ex_684593.htm (EX-10.2) — 7KB
• ex_684595.htm (EX-10.3) — 7KB
• 0001437749-24-019649.txt ( ) — 175KB
• prkr-20240603.xsd (EX-101.SCH) — 3KB
• prkr-20240603_def.xml (EX-101.DEF) — 10KB
• prkr-20240603_lab.xml (EX-101.LAB) — 14KB
• prkr-20240603_pre.xml (EX-101.PRE) — 11KB
• prkr20240605_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On June 3, 2024, ParkerVision, Inc. (the "Company") amended a convertible promissory note dated June 7, 2019, with a face value of $150,000 held by an accredited investor to extend the maturity date from June 7, 2024 to December 1, 2024. All other terms of the note, including the $0.10 conversion price, remain unchanged. In addition, on June 3, 2024, the Company amended two convertible promissory notes dated July 18, 2019, each with a face value of $100,000 held by accredited investors, to extend the maturity date from July 18, 2024 to December 1, 2024. All other terms of the notes, including the $0.08 conversion price, remain unchanged. The foregoing summary of the amendments are qualified in their entirety by reference to the full text thereof, which are attached as Exhibits 10.1 through 10.3 hereto, respectively, and are incorporated herein by reference.

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation The information set forth in Item 1.01 is incorporated under this Item 2.03 by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit Description 10.1 Amendment to June 7, 2019 Convertible Note Between Registrant and Mark Fisher 10.2 Amendment to July 18, 2019 Convertible Note Between Registrant and Mark Fisher 10.3 A mendment to July 18, 2019 Convertible Note Between Registrant and Stephen Hanson 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. Dated: June 7, 2024 PARKERVISION, INC. By /s/ Cynthia French Cynthia French Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR