Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 172

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 172
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.00%) per annum (the “Unused Commitment Fee”). In the event any payment is not
paid on or within five (5) Business Days of the scheduled payment date, an amount equal to two percent (2.00%) of the past due amount
shall be payable on demand, in addition to interest accruing. In addition, upon the occurrence and during the continuation of an Event
of Default hereunder, the Initial Loan Advance and all Subsequent Draws, including principal, interest, compounded interest, and professional
fees thereupon, shall upon the election of the lenders, bear interest at the Interest Rate, plus five (5) percentage points. In the event
any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded.

As
security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured Obligations, Borrower
granted to the lenders a security interest in all of Borrower’s right, title, and interest in and to all Inventory or Equipment and
machinery, in each case, purchased (or refinanced) with the proceeds of the Initial Loan Advance and any Subsequent Draw, and, to the
extent not otherwise included, all Proceeds of each of the foregoing and all products, additions, increases and accessions to, substitutions
and replacements for, and rents, profits and products of each of the foregoing.

As
of the date of this filing, $2,375,000 has been committed by the lenders.

Series
B Financing

On
October 6, 2023, the Borrower entered into a Series B Loan and Security Agreement (the “Series B Agreement”) with an
individual as lender. Under the terms of the Series B Agreement, the lender will make available to Borrower, in an amount not to
exceed its respective Commitment, a Loan Advance amount to be determined by the lender (as such amount may be increased, the
“Aggregate Commitment”) in the aggregate, of which (x) a certain amount will be deposited into an account of the
Borrower in accordance with its written instructions (the “Initial Loan Advance”) and (y) the remaining balance of the
Aggregate Commitment after deducting the Initial Loan Advance shall be deposited into the Escrow Account (the “Escrow
Funds”). The Borrower may, at any time, request a Subsequent Draw for all