Siebert Financial Corp. Secures $10M Loan
Ticker: SIEB · Form: 8-K · Filed: Aug 20, 2024 · CIK: 65596
| Field | Detail |
|---|---|
| Company | Siebert Financial Corp (SIEB) |
| Form Type | 8-K |
| Filed Date | Aug 20, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $20,000,000, $10,000,000, $43,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-financing, material-definitive-agreement
TL;DR
Siebert Financial just took out a $10M loan, adding new debt.
AI Summary
On August 15, 2024, Siebert Financial Corp. entered into a material definitive agreement, specifically a loan agreement with a principal amount of $10 million. This agreement creates a direct financial obligation for the registrant, indicating a new debt arrangement.
Why It Matters
This $10 million loan represents a new financial obligation for Siebert Financial Corp., potentially impacting its liquidity and capital structure.
Risk Assessment
Risk Level: medium — Taking on new debt can increase financial leverage and interest expenses, which carries inherent risks.
Key Numbers
- $10.0M — Loan Amount (This is the principal amount of the new debt entered into by Siebert Financial Corp.)
Key Players & Entities
- Siebert Financial Corp. (company) — Registrant
- $10 million (dollar_amount) — Principal amount of the loan agreement
- August 15, 2024 (date) — Date of the material definitive agreement
FAQ
What is the specific nature of the material definitive agreement entered into by Siebert Financial Corp. on August 15, 2024?
The agreement is a loan agreement with a principal amount of $10 million.
What is the principal amount of the loan Siebert Financial Corp. entered into?
The principal amount of the loan is $10 million.
When did Siebert Financial Corp. enter into this material definitive agreement?
The agreement was entered into on August 15, 2024.
Does this agreement create a financial obligation for Siebert Financial Corp.?
Yes, the agreement creates a direct financial obligation for the registrant.
What is the SIC code for Siebert Financial Corp.?
The SIC code for Siebert Financial Corp. is 6211, which corresponds to SECURITY BROKERS, DEALERS & FLOTATION COMPANIES.
Filing Stats: 1,031 words · 4 min read · ~3 pages · Grade level 13.2 · Accepted 2024-08-20 17:04:11
Key Financial Figures
- $0.01 — ge on which registered Common Stock - $0.01 par value SIEB The Nasdaq Capital M
- $20,000,000 — or a revolving credit facility of up to $20,000,000. The initial term of the Credit Agreeme
- $10,000,000 — ate purposes in an amount not to exceed $10,000,000. Obligations under the Credit Agreement
- $43,000,000 — an 1.35:1.00 and minimum net capital of $43,000,000. Forward-Looking Statements For pur
Filing Documents
- ea0211950-8k_siebert.htm (8-K) — 41KB
- ea021195001ex10-44_siebert.htm (EX-10.44) — 419KB
- ea021195001ex10-45_siebert.htm (EX-10.45) — 11KB
- ea021195001ex10-46_siebert.htm (EX-10.46) — 57KB
- ex10-44_001.jpg (GRAPHIC) — 4KB
- ex10-44_002.jpg (GRAPHIC) — 2KB
- 0001213900-24-071183.txt ( ) — 812KB
- sieb-20240815.xsd (EX-101.SCH) — 3KB
- sieb-20240815_lab.xml (EX-101.LAB) — 33KB
- sieb-20240815_pre.xml (EX-101.PRE) — 22KB
- ea0211950-8k_siebert_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 thereunto duly authorized. Dated: August 20, 2024 SIEBERT FINANCIAL CORP. By /s/ Andrew H. Reich Andrew H. Reich Executive Vice President, Chief Operating Officer, Chief Financial Officer, and Secretary (Principal financial and accounting officer) 3