Ebet announces structural amendment and expansion of its senior secured credit facility

Extends forbearance through june 2025 defers monthly cash interest expense increases revolving loan capacity to $4,000,000 las vegas, nv / accesswire / october 2, 2023 / ebet, inc. ("ebet" or the "company") (nasdaq:ebet), a global online i-gaming casino website operator, today announced that it has amended its existing $30,000,000 term loan and increased borrowing availability by upsizing ebet's existing $2,000,000 discretionary revolving loan to $4,000,000 through a second amendment to credit agreement and an amendment to its existing forbearance agreement with cpbf lending, llc ("cpbf"), its lender (together, the "amended credit agreements"). the amended credit agreements allow ebet to convert all interest expense from current cash pay to pay-in-kind additions to principal (pik) that will be due upon maturity, effectively deferring over $339,000 of monthly cash interest payments through the end of the forbearance period.
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