3 ms·

I would love to see the terms for that emergency 5 million in cash. Probably eye-watering interest rates.

• jld 8y ago
  Via Bloomberg... "Terms of the loan are onerous. Investment firm Hudson Bay Capital Management can demand repayment of more than $3 million of the loan on Aug. 1, and the rest on Aug. 5. Proceeds from a planned stock sale must also be used to repay the debt. If Helios and Matheson Analytics fails to pay, it will be subject to a 15 percent annualized late fee until it makes good on the obligation. If the company is 48 hours late in its payment, Hudson Bay can require the company to repay the debt at 130 percent." https://www.bloomberg.com/news/articles/2018-07-27/moviepass-parent-borrows-6-million-to-end-service-interruption https://www.bloomberg.com/news/articles/2018-07-27/moviepass...
  • Thespian2 8y ago
    Oof!
  • pc86 8y ago
    I've never had a physical reaction to reading loan terms before. That is painful, I have to wonder if they have any plan to turn it around using this money or if it's literally a Hail Mary to buy just a little more time.
    • deleted 8y ago
      [deleted]
  • paulmd 8y ago
    Easy peasey, just take out another loan to pay the first one /s
• arzt 8y ago
  Terms here: https://www.sec.gov/Archives/edgar/data/1040792/000121390018009741/f8k072618ex4-1_helios.htm https://www.sec.gov/Archives/edgar/data/1040792/000121390018...