Perfect Moment Ltd. has entered into a second amendment to its loan agreement, increasing the aggregate principal amount by $1.5 million. The amendment, effective October 9, 2026, also provides a temporary waiver related to a recent "Key Person Event" to avoid a default and maintain access to credit.
Key Details
- Loan Increase: The aggregate revolving commitment amount under the loan agreement was increased from $10.0 million to $11.5 million.
- Limited Waiver: Lenders granted a six-week waiver for a "Key Person Event" triggered by the resignation of Chath Weerasinghe and a role change for Max Gottschalk.
- Waiver Terms: The waiver allows the company to continue accessing credit advances during the six-week period, after which an Event of Default may occur if a successor is not appointed and approved.