Company: AMTX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015301
Chunk: 11

Company: AEMETIS, INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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Credit Agreement”) with Third Eye Capital, as administrative agent and collateral agent, and the lender parties thereto that provides two credit lines, one with GAFI (the “Fuels Revolving Line”) and a second with ACCI (the “Carbon Revolving Line”). Loans received under the Fuels Revolving Line had an original maturity date of  March 1, 2025, and are now due on demand. They accrue interest per annum at a rate equal to the greater of (i) the prime rate plus 6.00% and (ii) ten percent (10.0%). Loans received under the Carbon Revolving Line have a maturity date of  March 1, 2026, and accrue interest per annum at a rate equal to the greater of (i) the prime rate plus 4.00% and (ii) eight percent (8.0%). The Credit Agreement contain several affirmative and negative covenants, and loans under the Credit Agreement are secured by first priority liens on all real and personal property of and guarantees from the Company’s North American subsidiaries except for Aemetis Biogas LLC. As of  March 31, 2025, GAFI had principal and interest outstanding of $42.9 million classified as current debt. As of  March 31, 2025, ACCI had principal and interest outstanding of $27.5 million classified as current debt, and $0.9 million in unamortized debt issuance costs.
    
   Cilion Purchase Obligation. In connection with the Company’s merger with Cilion, Inc. (“Cilion”), on  July 6, 2012, the Company incurred a $5.0 million payment obligation to Cilion shareholders as merger compensation. The liability accrues interest at 3% per annum. As of  March 31, 2025, the Company had $7.3 million in principal and interest outstanding under the Cilion purchase obligation.
    
   Subordinated Notes. On  January 6 and  January 9, 2012, AAFK entered into Note and Warrant Purchase Agreements with two accredited investors pursuant to which it issued $3.4 million in original notes to the investors (“Subordinated Notes”). The Subordinated Notes mature every six months, and the current maturity date is  June 30, 2025. Upon maturity, the Subordinated Notes are renewable at the Company's election