Psyched Wellness secures $230K secured term loan
What's the deal? Psyched WellnessDealroom has a profile for this one. Try Dealroom → (CSE: PSYC) has secured US$230,000 in term notes from Gotham Green PartnersDealroom has a profile for this one. Try Dealroom → and an affiliated fund. The Toronto-based life sciences company will use the proceeds for operating expenses and inventory purchases related to its AMA brand.
The terms. The notes bear interest at SOFR plus 5% per year, compounded annually, with principal and accrued interest due on 4 August 2028. Each note is secured against the company's assets and property directly related to the AMA brand.
Why it matters. Psyched Wellness said the loan is a related-party transaction because the lenders, affiliates and co-investors jointly control more than 10% of its outstanding common shares. The company is relying on exemptions from formal valuation and minority approval requirements because the transaction's fair market value does not exceed 25% of its market capitalisation.
Read more: Finanznachrichten
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