Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 1127

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 1127
---
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 lender 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.

From
October 12, 2023, through February 26, 2024, the Borrower entered into Lender Joinder Agreements (the “Joinder Agreement”)
with several individuals and entities as subsequent lenders. Under the terms of the Joinder Agreement, the subsequent
lenders agreed to become a lender and be bound by the terms of the Series B Agreement as a lender pursuant to the Series
B Agreement.

As
of the date of this filing, $175,000 has been committed by the lender and subsequent lenders.

Series
C Financing

On
October 19, 2023, the Borrower entered into a Series C Loan and Security Agreement (the “Series C Agreement”) with an
individual as lender. Under the terms of the Series C Agreement, the lender will make available to Borrower, in an amount not to
exceed its 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 or a portion of the Escrow Funds.

The
Borrower issued a Promissory Note to the lender in the amount of the lender’s Initial Loan Advance. The principal balance of the
Initial Loan Advance and each Sub