WATERSIDE CAPITAL CORPORATION (OTCMKTS:WSCC) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 Entry Into A Material Definitive Agreement
On December 13, 2019, the Company amended its Loan Agreement and Promissory Note with Roran Capital as follows: (i) the total amount to be loaned was increased to $250,000, and (ii) the maturity date was extended to June 19, 2020.
About WATERSIDE CAPITAL CORPORATION (OTCMKTS:WSCC)
Waterside Capital Corporation is a Small Business Investment Corporation (SBIC). The Company has a portfolio of approximately $15 million of loans and investments in 12 companies located primarily in the Mid-Atlantic region. The Company is a specialty finance company that invests in debt securities consisting primarily of senior term loans, senior subordinated loans, and junior subordinated loans in small and medium sized companies that meet certain criteria. The criteria can include some or all of the following: the potential for growth in cash flow, adequate assets for loan collateral, experienced management teams with significant ownership interest in the business, adequate capitalization, profitable operations based on the borrower’s cash flow, reasonable capitalization of the borrower and the potential to realize appreciation and gain liquidity in equity position, if any.
