Bright Mountain Media Secures $5M Loan Facility
Ticker: BMTM · Form: 8-K · Filed: Jan 2, 2025
Sentiment: neutral
Topics: debt, financing
Related Tickers: BAMM
TL;DR
BAMM just got a $5M loan to fund operations.
AI Summary
On December 26, 2024, Bright Mountain Media, Inc. entered into a direct financial obligation. The company secured a loan facility with an initial principal amount of $5,000,000. This facility is intended to provide working capital and fund general corporate purposes.
Why It Matters
This new financing provides Bright Mountain Media with additional capital, potentially enabling growth initiatives or strengthening its financial position.
Risk Assessment
Risk Level: medium — Securing debt can increase financial leverage and repayment obligations, posing a risk if the company's performance falters.
Key Numbers
- $5.0M — Loan Facility Principal (Provides working capital and funds general corporate purposes.)
Key Players & Entities
- Bright Mountain Media, Inc. (company) — Registrant
- $5,000,000 (dollar_amount) — Initial principal amount of loan facility
- December 26, 2024 (date) — Date of financial obligation
FAQ
What is the purpose of the $5,000,000 loan facility?
The loan facility is intended to provide working capital and fund general corporate purposes for Bright Mountain Media, Inc.
When did Bright Mountain Media, Inc. enter into this financial obligation?
The company entered into the direct financial obligation on December 26, 2024.
What is the initial principal amount of the loan facility?
The initial principal amount of the loan facility is $5,000,000.
What type of filing is this for Bright Mountain Media, Inc.?
This is a Form 8-K filing, reporting a current event.
What is the state of incorporation for Bright Mountain Media, Inc.?
Bright Mountain Media, Inc. is incorporated in Florida.
Filing Stats: 1,026 words · 4 min read · ~3 pages · Grade level 13.8 · Accepted 2025-01-02 16:43:47
Key Financial Figures
- $1.7 million — judgment in the amount of approximately $1.7 million (the "Judgment") that was entered into
- $1.9 million — ny borrowed an additional approximately $1.9 million from the Lenders, which funds were used
- $0.01 — common stock of the Company, par value $0.01 per share (the "Common Stock"), equal t
Filing Documents
- form8-k.htm (8-K) — 39KB
- 0001493152-25-000081.txt ( ) — 206KB
- bmtm-20241226.xsd (EX-101.SCH) — 3KB
- bmtm-20241226_lab.xml (EX-101.LAB) — 33KB
- bmtm-20241226_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Bright Mountain Media, Inc. Date: January 2, 2025 By: /s/ Matt Drinkwater Matt Drinkwater Chief Executive Officer