Summary by Moomoo AI
Heart Test Laboratories has amended its $500,000 Loan and Security Agreement with Front Range Ventures LLC (FRV), extending the maturity date to September 30, 2025. The loan continues to accrue interest at 12% per annum, compounded annually.Under the amended agreement signed on August 19, 2024, the company will make interest payments in three phases: immediately within five business days of execution, on September 30, 2024, and the remaining accrued interest on the final maturity date. The company maintains the flexibility to repay the loan, partially or fully, before maturity in minimum increments of $50,000, with payments applied first to accrued interest and then to principal.
