U.S. Department of the Treasury: oVio Technologies, "Transaction Summary"

Summary

Treasury agreed to lend $1,186,900 to oVio Technologies, Inc., a business critical to maintaining national security with approximately six U.S. employees in March 2020, under section 4003(b)(3) of the CARES Act. The summary states that the loan is unsecured, has an annual interest rate of LIBOR plus 5.5%, and matures on October 31, 2025. Treasury funded the full loan amount at close, and the proceeds will be used to provide liquidity to continue the Company's operations. The loan constitutes senior indebtedness, with 3% payment-in-kind annual interest to Treasury.

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Cite this document

“U.S. Department of the Treasury: oVio Technologies, ‘Transaction Summary.’” Original at home.treasury.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/u-s-department-of-the-treasury-ovio-technologies-transaction-summary-c919a6e116/, SHA-256 afe08d5a92986bd5b31c83237642a780e65ce1a10acf26caa859e1a70933e6fe.

Full text

                                      Transaction Summary

The U.S. Department of the Treasury agreed to make a loan totaling $1,186,900 to oVio
Technologies, Inc. (the Company), a business critical to maintaining national security with
approximately six U.S. employees in March 2020.

Treasury made the loan pursuant to section 4003(b)(3) of the Coronavirus Aid, Relief, and
Economic Security (CARES) Act. The loan is unsecured. It has an annual interest rate equal to
LIBOR plus 5.5% and matures on October 31, 2025. Treasury funded the full loan amount at
close. The loan proceeds will be used to provide liquidity to continue the Company’s operations.
The transaction agreement includes covenants by the Company to comply with certain
restrictions on employee compensation, stock repurchases, dividends, and reductions in
employment levels, as required by the CARES Act. The loan constitutes senior indebtedness of
the Company, and Treasury will receive 3% payment-in-kind annual interest on the loan in
accordance with section 4003(d) of the CARES Act.

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Our copy: TREAS-oVio-Technologies-Transaction-Summary.pdf
Original: home.treasury.gov