Guerrilla RF, Inc. announced that company drew down an additional $1.5 million under its existing loan facility with Salem Investment Partners V, Limited Partnership . In connection with the additional draw, the Company executed a Promissory Note and entered into an Amendment to the existing Loan Agreement. The Additional Advance has an interest rate of 14.0% per annum, with payment of interest deferred until the August 2027 maturity date, i.e. ?paid-in-kind?.

Additionally, the Company paid Salem a closing fee of $45,000 and has agreed to issue 400,000 shares of common stock to Salem as partial consideration for the Additional Advance. The foregoing description of the Promissory Note and the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the loan documents, copies of which are attached to this Current Report on Form 8-K as Exhibits 10.1, and 10.2, and incorporated herein by reference. The Company?s voluntary salary deferral program, as more fully described in the Current Report on Form 8-K filed with the SEC on July 3, 2023, has been terminated, effective, August 18, 2023.