TRACK GROUP, INC. (OTCMKTS:TRCK) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement.
On July 19, 2018 Track Group, Inc. (the “Company”) and Conrent Invest S.A., acting on behalf of its compartment, Safety 2 (“Conrent”), amended the facility agreement originally entered into by and between the parties on December 30, 2013 (the “Amended Facility Agreement”), which Amended Facility Agreement alters certain provisions of the Company’s existing $30.4 million unsecured debt facility. Effective July 19, 2018, the Amended Facility Agreement (i) extends the Maturity Date to the earlier of either April 1, 2019 or the date upon which the Outstanding Principal Amount, as defined therein, is repaid by the Company, and (ii) provides that in the event of a Change of Control, as defined therein, Conrent shall immediately cancel the facility and declare the Outstanding Principal Amount, together with unpaid interest, immediately due and payable.
The foregoing description of the Amended Facility Agreement does not purport to be complete and is qualified, in its entirety, by reference to the full text of the Amended Facility Agreement, attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.
Financial Statements and Exhibits.
See Exhibit Index.
Track Group, Inc. ExhibitEX-10.1 2 ex10-1.htm AMENDMENT TO FACILITY AGREEMENT BY AND BETWEEN TRACK GROUP,…To view the full exhibit click
About TRACK GROUP, INC. (OTCMKTS:TRCK)
Track Group, Inc. is engaged in manufacturing and leasing of tracking and monitoring solutions to federal, state and local law enforcement agencies, both in the United States and abroad, for the electronic monitoring of offenders and offering data analytics services on a platform-as-a-service (PaaS) business model. The Company deploys offender-based management services that combine global positioning system (GPS) tracking technologies, fulltime around the clock global monitoring capabilities, case management and data analytics. In addition, the Company offers customizable tracking solutions that leverage real-time tracking data, monitoring and analytics capabilities to create end-to-end tracking solutions. The Company’s products and services include devices, operating system software, application software and accessories. Its offerings include ReliAlert XC3, Shadow, TrackerPAL, BACtrack and TrackerPAL Mobile.