Other DebtActive
SE & AJ Liebel Senior Secured Term Loan
LMFA-Aug26
BTC Holdings
354.7 BTC
Total Debt
$19.50M
Leverage
71.7%
mNAV
0.18x
Outstanding
$5.00M
Insufficient history
Issue date
2024-08-06
Principal
$5.00M
Coupon
12.00%
Maturity
2026-08-06
Conversion price
—
- Intercreditor agreement with Brown Family Enterprises LLC (second lien holder)
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured (first lien)
- Facility type
- Term loan
- Payment frequency
- Monthly
- Rate type
- Fixed
- Collateral
- BTC (min $5.0M fair value) plus first perfected security interest in substantially all assets, including ~11,100 Bitmain S21 Antminers
- Covenants
- Customary negative and affirmative covenants including non-payment, cross-defaults, bankruptcy, change of control, and financial covenants
- Prepayment
- Prepayable in whole or in part at any time without penalty
Sources(1)
- Form 8-K (SE & AJ Liebel …FilingForm 8-K (SE & AJ Liebel $5M loan agreement)Item 1.01LM Funding America, Inc. — 2024-08-12
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-08-06 | Issuance | $5.00M | Form 8-K (SE & AJ Liebel … |
- 2024-08-06 — $5,000,000Item 2.03 — filing — LM Funding America, Inc.Source