Function(x) Inc. (NASDAQ:FNCX) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Function(x) Inc. (NASDAQ:FNCX) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
As previously disclosed by Function(x) Inc. (the “Company”) in a Form 8-K filed on June 12, 2015, Sillerman Investment Company IV, LLC (“SIC IV”), an affiliate of Robert F.X. Sillerman, our Executive Chairman and Chief Executive Officer of the Company, agreed to provide a Line of Credit to the Company (the “Line of Credit”).
On December 23, 2016, the Company borrowed an additional $250,000 under the Line of Credit. The principal amount now outstanding under the Line of Credit is $3,214,586 and the Company is entitled to draw up to an additional $1,785,414 under the Line of Credit.
