Company: AMTX
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033667
Chunk: 15

Company: AEMETIS, INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 received a total of $23 million in draws in this agreement, net of 8.1% interest. As of both  September 30, 2025 and  December 31, 2024, we had no outstanding debt under this agreement.
    
   Aemetis Biogas 1 LLC Term Loan. On  October 4, 2022, Aemetis Biogas 1 LLC ("AB1") 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 AB1. 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) monthly payments of interest only beginning  January 22, 2024, (ii) equal monthly payments of principal and interest beginning  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, is 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  September 30, 2025, and  December 31, 2024, AB1 had $24.6 million and $25.1 million outstanding, respectively, under the AB1 Term Loan.
    
   Aemetis Biogas 2 LLC Construction and Term Loan. On  July 28, 2023, Aemetis Biogas 2 LLC ("AB2") 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