Item 1.01. Entry into a Material Definitive Agreement.
On
Borrowings under the Fourth Shareholder's Loan Agreement will incur interest at
the applicable Secured Overnight Financing Rate ("SOFR"), plus 4.65% per annum.
Further, if the applicable term SOFR is negative, the interest rate per annum
shall be deemed as 4.65% per annum. If the interest rate for any loan is lower
than
The Company previously entered into three separate loan agreements with
The foregoing description of the Fourth Shareholder's Loan Agreement is qualified in its entirety by the full text of the Fourth Shareholder's Loan Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference herein.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this report is incorporated by reference into this Item 2.03.
Item 7.01 Regulation FD Disclosure.
On
--------------------------------------------------------------------------------
The information contained in this Item 7.01 and Exhibit 99.1 hereto shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933 (the "Securities Act") or the Exchange Act, except as shall be expressly set forth by reference in such a filing.
Caution Regarding Forward-Looking Statements
This Form 8-K contains forward-looking statements regarding the current expectations of the Company about its prospects and opportunities. These forward-looking statements are entitled to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934. The Company has tried to identify these forward-looking statements by using words such as "anticipate," "believe," "budgeted," "contemplate," "estimate," "expect," "forecast," "guidance," "may," "outlook," "plan," "projection," "should," "target," "will," "would," or similar expressions, but these words are not the exclusive means for identifying such statements. These statements are subject to a number of risks, uncertainties, and assumptions that may cause actual results, performance or achievements to be materially different from those expressed in, or implied by, such statements.
The Company cautions that the risks, uncertainties and other factors that could
cause its actual results to differ materially from those expressed in, or
implied by, the forward-looking statements, include, without limitation: the
impact of the ongoing COVID-19 pandemic could have on the Company's business and
financial results; the Company's ability to continue as a going concern; the
Company's ability to raise additional capital when needed and its liquidity;
uncertainties around the Company's ability to meet funding conditions under its
financing arrangements and access to capital thereunder; the potential
acceleration of the maturity at any time of the loans under the Company's
uncommitted senior secured revolving credit facility through the exercise by
Standard Chartered Bank of its demand right; the timing of completion of steps
to address, and the inability to address and remedy, material weaknesses; the
identification of additional material weaknesses or significant deficiencies;
risks related to complying with the terms and conditions of the settlements with
the
--------------------------------------------------------------------------------
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Shareholder's Loan Agreement, dated as ofApril 20, 2022 , between the Company andWeichai America Corp. 99.1 Press release announcing the Fourth Shareholder's Loan Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
--------------------------------------------------------------------------------
© Edgar Online, source