Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 134

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 18
Chunk 134
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, eLMTree issued a non-interest-bearing promissory note of$ 45,800 due to Best Assistant. The promissory note was payable upon demand. This promissory note was fully repaid on November 18, 2022.

Table of contents

Mynd. ai. Inc.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In thousands of U. S. dollars, except share and per share data, or otherwise noted)

The Controlling Shareholder, through its various operating and financing subsidiaries, has historically provided funding to eLMTree on an interest-free basis with no set repayment date. As of December 31, 2024 and 2023, the Company had $ 5,006 4,670

As of December 31, 2024, certain historical net payable balances of $ 2,412

As of December 31, 2023, the non-controlling interest of $ 1,889

Concurrent with the closing of the GEH Acquisition described in detail in Note 3 - Acquisitions and Disposition, the Company issued a senior secured convertible note to an entity which is considered a related party as of December 31, 2024 and 2023. See further discussion of this note in Note 14 - Debt.

Note 14. Debt

Debt outstanding consists of the following:

                                                   December 31,                                       
                                                   2024                            2023               
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Revolver                                         $                 11,000           $       32,000  
  Paycheck Protection Program Loan                 82                               194               
  Less revolver issuance costs                     ( 151)                        ( 252)               
  Loans payable, current                                             10,931                   31,942  
  Convertible Note (a)                                               55,239                   50,585  
  Embedded derivative (b)                                             2,919                   14,308  
  Less issuance costs on convertible debt          ( 81)                         ( 116)               
  Paycheck Protection Program Loan                 —                                 82               
  Loans payable, non-current                                         58,077                   64,859  
  Loans payable, related parties, non-current                         5,006                    4,670  
                                                   $                 74,014           $      101,471  

(a) The Convertible Note balance comprises of the following:

                                                                                                                   December 31,