Datavault AI Inc. (DVLT), acting as a guarantor, entered into a bridge loan agreement to provide financing for NYIAX, Inc., the company it intends to acquire. The loan, provided by Abri Capital LTD., is for up to $833,333 and is intended to fund NYIAX's expenses and working capital needs to facilitate the completion of the pending merger.
Key Details
- Loan Facility: A bridge loan of up to $833,333 provided to NYIAX, Inc. (the Borrower) by Abri Capital LTD., with Datavault AI serving as the guarantor.
- Key Terms: The loan carries a 13% annual interest rate, is subject to a 10% original issue discount, and has a default interest rate of 18%.
- Maturity & Repayment: The loan is due by September 11, 2026, and becomes immediately repayable in full within three days of the closing of the merger between DVLT and NYIAX.