Track Group, Inc. (OTCMKTS:TRCK) Files An 8-K Entry into a Material Definitive Agreement

Track Group, Inc. (OTCMKTS:TRCK) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On December 21, 2020, Track Group, Inc. (the \”Company\”) and Conrent Invest S.A., acting on behalf of its compartment, “Safety 2” entered into an amendment to the facility agreement (the \”Amendment\”) originally executed by and between the parties on December 30, 2013, as amended on June 30, 2015, July 19, 2018, February 24, 2019, and January 10, 2020 (the “Amended Facility Agreement”), containing certain provisions of the Company\’s existing $30.4 million unsecured debt facility. The Amendment extends the maturity date from July 1, 2021 to the earlier of July 1, 2024, or the date upon which the Outstanding Principal Amount, as defined therein, is repaid by the Company, (the “Maturity Date”). Furthermore, the Amendment: (i) capitalizes the previous Unpaid Interest (as defined in the Amended Facility Agreement) increasing the Outstanding Principal Amount (as defined in the Amended Facility Agreement); and (ii) decreasing the interest rate from 8% to 4%.
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.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Track Group, Inc. Exhibit
EX-10 2 ex10-1.htm AMENDMENT TO FACILITY AGREEMENT ex10-1   FOURTH AMENDMENT AGREEMENT   between   Conrent Invest S.A.acting on behalf of its compartment “Safety 2” as Lender   and   Track Group,…
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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.

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