Abundia secures $10 million credit facility from largest shareholder
Abundia Global Impact Group issued a $6.5 million secured promissory note to Bower Family Holdings, its largest shareholder, under a facility of up to $10 million in total. The note bears 10% annual interest and is due in 24 months, and proceeds will repay $4,193,129.03 of a convertible note held by Abundia Financial, LLC, with the rest for working capital and a possible buyback pending board approval.
Key points
- Initial secured note of $6.5 million at 10% interest, due 24 months from issue, with additional tranches of at least $500,000 each up to $10 million in total
- Net proceeds to repay $4,193,129.03 of indebtedness under a senior secured convertible promissory note dated April 1, 2026
- Remaining funds for general working capital and an anticipated stock buyback program, subject to Board authorization
- Overdue amounts and accrued unpaid interest bear a 3% annual rate; the note is secured by property and related rights
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 17, 2026.
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