Summary by Moomoo AI
On September 18, 2024, Staffing 360 Solutions entered into agreements to extend its debt maturities and credit facility. The company signed a Second Omnibus Amendment with Jackson Investment Group, extending the maturity of its Third Amended and Restated Note and Warrant Purchase Agreement to January 13, 2025. This amendment also extends the maturity dates of two senior secured notes to the same date.Concurrently, Staffing 360 Solutions executed Amendment No. 30 to its Credit and Security Agreement with MidCap Funding IV Trust, extending the Commitment Expiry Date to December 5, 2024. As part of this amendment, the company agreed to pay a $200,000 modification fee, which will be waived if all outstanding obligations are satisfied before December 5, 2024.Both amendments became effective on September 18, 2024, providing Staffing 360 Solutions with extended financial flexibility. These agreements demonstrate the company's proactive approach to managing its debt obligations and maintaining its credit facilities.
