THE ONE GROUP HOSPITALITY, INC. (NASDAQ:STKS) Files An 8-K Entry into a Material Definitive Agreement

THE ONE GROUP HOSPITALITY, INC. (NASDAQ:STKS) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01 Entry into a Material Definitive Agreement.

On February 17, 2017, certain of The ONE Group Hospitality, Inc.s
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
amount.
The Loan Agreement is filed as Exhibit 10.1 to this Current
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
exhibit.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The response to this item is included in Item 1.01, Entry into a
Material Definitive Agreement, and is incorporated herein by this
reference in its entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
10.1
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.

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