Dalrada Technology Group, Inc. reports debt accelerated by a triggering event
, the IBS Notices and IBS s demand for payment of approximately $1,162,246. As a result of the Settlement Agreement and the Closing described in Item 1.02 of this Current Report, the IBS Notices have been withdrawn, the asserted events of default and acceleration are of no force or effect, and the Company s and its subsidiaries obligations in respect of the amounts demanded have been fully and finally resolv
Dalrada Technology Group, Inc. reported that IBS issued notices demanding payment of approximately $1,162,246 after a triggering event of default and acceleration, but these obligations were fully resolved through a Settlement Agreement and Closing, and the IBS Notices were withdrawn.
- Amount demanded by IBS
- approximately $1,162,246
- Outcome
- IBS Notices withdrawn and obligations fully and finally resolved
- Mechanism of resolution
- Settlement Agreement and Closing described in Item 1.02 of the Current Report
, the IBS Notices and IBS s demand for payment of approximately $1,162,246. As a result of the Settlement Agreement and the Closing described in Item 1.02 of this Current Report, the IBS Notices have been withdrawn, the asserted events of default and acceleration are of no force or effect, and the Company s and its subsidiaries obligations in respect of the amounts demanded have been fully and finally resolv
Primary sources
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