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- Debt Default (new) — Company defaulted on revolving loan after missing January 31, 2026 maturity date repayment, triggering lender demand for full payment plus 20% penalty.
GridAI settles $1M debt default with $800K cash and 71K shares to avoid 20% penalty
Filed May 20, 2026 · Period ending May 14, 2026 · ~1 min read
Key Changes
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high
GridAI defaulted on $700K revolving loan after missing Jan 31, 2026 repayment deadline; lender demanded $1.01M including 20% penalty
Item 1.01 verify on EDGAR → -
high
Company settled default for $800K cash (principal plus partial interest) and 71,482 shares at $3.25/share to cover remaining $232K interest, avoiding the penalty
Item 1.01 verify on EDGAR → -
medium
Settlement dilutes existing shareholders by 71,482 shares as company uses equity instead of cash to satisfy portion of debt obligation
Item 1.01 verify on EDGAR →
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Source-verified from EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify