The US Bankruptcy Court gave an order to Dougherty’s Holdings, Inc. to obtain DIP financing on a final basis on January 31, 2020. As per the order, the debtor has been authorized to obtain a line of credit facility in the amount of $0.6 million from OSK Capital VII, LLC. The DIP loan would carry an interest rate of the lesser of 16% and the maximum allowed by law per annum, in the event of default the facility will bear interest at the lesser of 18% and the maximum allowed by law per annum. The DIP facility would mature on the earlier of 60 days from the closing date and the effective date of a plan of reorganization. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.03 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The proceeds of DIP financing would be used to fund the debtor’s operations during the Chapter 11 cases, reasonable and necessary ordinary course of business operational expenses and expenses approved in advance by OSK.