Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 891

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 891
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sequent
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 Subsequent Draw shall bear interest thereon from the Closing Date and applicable Advance Date, respectively,
at 18.00% per annum. The Borrower shall pay the Lender, according to its Applicable Percentage, an Unused Commitment Fee on the actual
daily amount of the Unused Commitment Amount during the immediately preceding calendar quarter at the rate of five percent (5.00%) per
annum. 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