Company: AMTX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015301
Chunk: 62

Company: AEMETIS, INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1F
Chunk 62
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.1 million, respectively.
    
   Aemetis Biogas 1 LLC Term Loan. On  October 4, 2022, the Company entered into a Construction Loan Agreement ("AB1 Construction Loan") pursuant to which the lender made available an aggregate principal amount of $25 million. Effective  December 22, 2023, the AB1 Construction Loan was refinanced and replaced with a term loan ("AB1 Term Loan") that is secured by all personal and real property of Aemetis Biogas 1 LLC. It bears interest at a rate of 9.25% per annum, to be adjusted every five years to equal the five-year Treasury Constant Maturity Rate, as published by the Board of Governors of the Federal Reserve System as of the adjustment date, plus 5.00% or (ii) the index floor. Other material terms of the loan include: (i) payments of interest only to be paid in monthly installments beginning  January 22, 2024, (ii) payments of equal combined monthly installments of principal and interest beginning on  January 22, 2025, and (iii) a maturity date of  December 22, 2042, at which time the entire unpaid principal amount, together with accrued and unpaid interest thereon, shall become due and payable. The AB1 Term Loan contains certain financial covenants to be measured as of the last day of each fiscal year beginning fiscal year end 2025, and annually for the term of the loan. The AB1 Term Loan also contains other affirmative and negative covenants, representations and warranties, and events of default customary for loan agreements of this nature. As of  March 31, 2025, and  December 31, 2024, the Company had $24.9 million and $25.1 million outstanding, respectively, under the AB1 Term Loan.
    
   Aemetis Biogas 2 LLC Construction and Term Loan. On  July 28, 2023, the Company entered into a Construction and Term Loan Agreement ("AB2 Loan"), pursuant to which the lender has made available an aggregate principal amount not to exceed $25 million. The loan is secured by all personal and real property of Aemetis Biogas 2 LLC. The loan bears interest at a rate of 8.75% per annum, to