PROPEL MEDIA, INC. (NYSE:NEWM) Files An 8-K Other Events
Item 8.01Other Events.

On January 28, 2015, in connection with the closing of the business combination between Propel Media, Inc. (the “Company”), Kitara Media Corp. (“Kitara”) and Propel Media LLC (formerly known as Future Ads LLC) (“Propel Media”), the Company, Kitara and Future Ads as “Borrowers” and certain of their subsidiaries as “Guarantors” entered into a financing agreement (“Financing Agreement”) with certain financial institutions as “Lenders,” Highbridge Principal Strategies, LLC, as collateral agent for the Lenders, and PNC Bank, National Association, as a Lender and administrative agent for the Lenders. The Financing Agreement and other loan documents provided for $12,500,000 to be paid to the Lenders on the fourth anniversary of the closing date of the Financing Agreement (the “Final Payment”).

On May 30, 2017, the parties to the Financing Agreement agreed that, subject to certain conditions, if the amounts owed under the Financing Agreement are repaid in full at any time through and including September 30, 2017 (the date of repayment being referred to as the “Repayment Date”), the Final Payment will be reduced to an amount equal to 5.0% times the aggregate principal amount of the loans repaid on the Repayment Date. If all amounts under the Financing Agreement are not repaid on or before September 30, 2017, the Final Payment will continue to be due as originally contemplated ($12,500,000 paid on the fourth anniversary of the closing date of the Financing Agreement).