Emergent Capital, Inc. and Wilmington Trust, National Association, as indenture trustee, entered into a Second Supplemental Indenture which amended the Amended and Restated Indenture, dated as of July 28, 2017, as amended by the First Supplemental Indenture dated as of January 10, 2018 relating to the Emergent's 8.5% senior secured notes due July 15, 2021. The Second Supplemental Indenture (i) increased the aggregate principal amount of Notes permitted to be issued under the Indenture from $40,000,000 to $70,000,000 and (ii) provided for interest on the Notes to be paid in kind, such that the principal amount of the relevant holder's note is increased by the amount of interest, in lieu of cash payment (PIK). The company may elect to pay PIK interest instead of cash interest for any Interest Period (as defined in the Indenture) to holders of Notes who consented to accept PIK interest. Any new holder of Notes, other than a transferee who is an affiliate of a transferring holder that did not elect to accept PIK interest, will be deemed to have elected to accept PIK interest. A holder receiving PIK interest shall also automatically receive, for each applicable Interest Period, an amount equal to 3.0% per annum of additional interest on the principal amount of such holder's Notes for which the holder elected to accept PIK interest.

The company has appointed Matthew D. Houk and Patrick T. Brennan to the company's Board of Directors. In connection with these appointments, the Board fixed the size of the Board at eight directors.