Current Report Filing (8-k)
June 22 2023 - 8:01AM
Edgar (US Regulatory)
0001829966
false
0001829966
2023-06-20
2023-06-20
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 20, 2023
___________________________
EBET, Inc.
(Exact name of registrant as specified in its
charter)
___________________________
| Nevada |
001-40334 |
85-3201309 |
|
(State or other jurisdiction of
incorporation or organization) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
3960
Howard Hughes Parkway, Las Vegas,
NV 89169
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including
area code: (888) 411-2726
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
___________________________
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Securities registered pursuant to Section
12(b) of the Act:
| Title of each class |
Trading
Symbols(s) |
Name
of each exchange on which registered |
| Common stock, par value $0.001 per share |
EBET |
The NASDAQ Stock Market LLC |
| Item 2.03 | Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
On
November 29, 2021, EBET, Inc. (the “Company”) entered a credit agreement (the “Credit Agreement”) with CP BF Lending,
LLC (“Lender”), pursuant to which the Lender agreed to make a single loan to the Company of $30,000,000 (the “Loan”).
The Loan required the Company to maintain certain minimum liquidity and other financial and other covenants. On June 20, 2023, the Lender
provided the Company with a limited waiver of these covenants until June 30, 2023. The Company does not expect to satisfy these covenants
prior to June 30, 2023. As previously disclosed, the Company has received multiple such waivers from the Lender in the past. There is
a substantial likelihood that the Lender will not provide Company with any further waivers, and the Company is in the process of negotiating
a forbearance agreement with the Lender prior to June 30, 2023 and to enter same on or about or shortly thereafter in order to come to
an agreement with the Lender whereby the Lender will refrain from seeking certain remedies under the Loan including but not limited to
the immediate acceleration of the loan repayment due to default(s). There is no assurance that the Company will be successful in negotiating
such agreement.
SIGNATURE
Pursuant to the requirements
of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
| |
EBET, INC. |
| |
|
| |
|
| Date: June 22, 2023 |
|
| |
By: /s/
Matthew
Lourie |
| |
Matthew Lourie |
| |
Chief Financial Officer |
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