EMERGENT CAPITAL, INC. (NYSE:EMG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.
On February 11, 2019, Emergent Capital, Inc., (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with Brennan Opportunities Fund I LP (the “Investor”), which is affiliated with Patrick T. Brennan, a member of the Company’s Board of Directors. to the Subscription Agreement, the Investor purchased from the Company $967,000 principal amount of the Company’s 8.5% Senior Secured Notes (the “Senior Notes”) for a purchase price of $725,250. The transaction was consummated on February 14, 2019.
The above description of the Note Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Subscription Agreement, which is filed as Exhibit 10.1 hereto.
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Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth under Item 1.01 of this Current Report on Form8-K is incorporated herein by reference to this Item 2.03.
Item 3.02Unregistered Sales of Equity Securities.
The information set forth under Item 1.01 of this Current Report on Form8-K is incorporated herein by reference to this Item 3.02.
The Senior Notes were issued in reliance on the exemption from registration provided by Section4(a)(2)of the Securities Act and Rule506 of Regulation D promulgated thereunder.
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Item 9.01 |
Financial Statements and Exhibits EXHIBIT INDEX |
EMERGENT CAPITAL, INC. Exhibit
EX-10.1 2 emergentbrennansubscriptio.htm EXHIBIT 10.1 Exhibit SUBSCRIPTION AGREEMENTEmergent Capital,…
To view the full exhibit click here
About EMERGENT CAPITAL, INC. (NYSE:EMG)
Emergent Capital, Inc., formerly Imperial Holdings, Inc., is a specialty finance company that invests in asset classes, primarily life settlements. The Company, through its subsidiary companies, owns a portfolio of approximately 630 life insurance policies (life settlements). The Company purchases individual policies and portfolios of life insurance policies and manages those assets based on actuarial and market data. The Company provides customized liquidity solutions to owners of illiquid financial assets in two markets, which include life finance and structured settlements. The Company focuses on lending to outright purchases of portfolios, to tertiary trades, as well as individual secondary market purchases. The Company invests in short and long-term life settlement investments.
