THE ONE GROUP HOSPITALITY, INC. (NASDAQ:STKS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
subsidiaries (the Borrowers) entered into a $1,000,000 Business
Loan and Security Agreement (the Loan Agreement) with American
Express Bank, FSB (the American Express). In consideration of the
loan amount each Borrower granted American Express a security
interest in certain properties, assets and rights as specified
therein. to the Loan Agreement the Borrowers agreed to pay a loan
fee equal to 3.5% of the original principal balance of the loan
amount and a repayment rate of 6% to the repayment schedule set
forth therein. The entire balance of the loan amount is due and
payable 365 days after the disbursement of the initial loan
Report on Form 8-K, and such document is incorporated herein by
reference. The foregoing is only a brief description of the
material terms of the Loan Agreement, does not purport to be a
complete description of the rights and obligations of the parties
thereunder and is qualified in its entirety by reference to such
Obligation under an Off-Balance Sheet Arrangement of a
Material Definitive Agreement, and is incorporated herein by this
reference in its entirety.
Business Loan and Security Agreement by and between the
borrowers named therein and American Express Bank, FSB,
dated as of February 17, 2017.
THE ONE GROUP HOSPITALITY, INC. (NASDAQ:STKS) Recent Trading Information
THE ONE GROUP HOSPITALITY, INC. (NASDAQ:STKS) closed its last trading session at with 18,869 shares trading hands.