Semileds Corp. (LEDS) has released an update.
SemiLEDs Corporation secured a loan from its CEO, Trung Doan, for $1.7 million at an 8% interest rate, using its headquarters as collateral. Originally set to mature in January 2021, the loan’s deadline has been successively extended annually to January 2025. The company recently amended the agreement allowing for partial repayment in common stock shares, with the first such transaction involving the issuance of 629,921 shares to repay $800,000 of the principal.
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