Dec. 11 at 1:24 PM
$RGF Playing around with AI:
. The "Hard Stop" (Maturity Date)
Source: Form 8-K, Filed Nov 22, 2023 (Item 1.01) & June 26, 2024.
The Clause: The Second Lien Term Loan with PMC Financial Services (which sits just below the new Emblem debt) has a stated Maturity Date of December 31, 2025.
Why it forces a sale: On this date, the company must pay back the principal in full. Since RGF does not have the cash flow to pay this, they will be in technical default on Jan 1, 2026. To avoid default, the Board must sell the company or refinance before this date hits.