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SemiLEDs Corporation (NASDAQ:LEDS) announced on Thursday amendments to its existing loan agreements with Simplot Taiwan Inc. and Chairman and CEO Trung Doan, according to a statement based on a recent SEC filing.
The company entered into the Seventh Amendment to its loan agreement with Simplot Taiwan Inc., which capitalizes all outstanding and unpaid interest of $364,924.63 into the principal balance. This brings the new principal amount of the loan to $664,924.63. The maturity date of the loan has also been extended to January 15, 2027. All other terms and conditions of the agreement remain unchanged.
In a separate move, SemiLEDs executed the Eighth Amendment to its loan agreement with Trung Doan, extending the maturity date of that loan to January 15, 2027. No other terms or conditions were modified in this amendment.
The original loan agreements date back to 2019 and have undergone several amendments, including changes to repayment options and maturity dates. The agreements are secured by a second priority security interest on the company’s headquarters building.
These updates were disclosed in a press release statement and detailed in the company’s Form 8-K filing with the Securities and Exchange Commission. SemiLEDs trades on the Nasdaq Stock Market under the symbol LEDS.
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