High Wire Networks Inc (HWNI)

[Ecomike]

Odds are pretty good this 8-K, filed 24 hours ago about the 5 million dollar bank line of credit, was why all those restricted shares were just issued, issued to clean up and get rid of all of the convertible debt?

https://ih.advfn.com/p.php?pid=nmona&article=78488855

Something huge, news wise must be close.

Strong buy the dips on this one time. Or buy at the ask just get in before they ask goes balistic

https://ih.advfn.com/p.php?pid=nmona&article=78488855

"Item 1.01 Entry into a Material Definitive Agreement.

On October 10, 2018, ADEX Corporation (the “Borrower”), a wholly-owned subsidiary of Spectrum Global Solutions, Inc., a Nevada corporation (the “Company”) entered into a Loan and Security Agreement (the “Loan and Security Agreement”) with Heritage Bank of Commerce (the “Lender”). Under the Loan and Security Agreement, the Borrower may borrow an aggregate outstanding amount not to exceed the lesser of up to (i) $5,000,000 or (ii) the Borrowing Base (as defined in the Loan and Security Agreement) through one or more advances through October 10, 2020 (the “Maturity Date”), subject to the Lender’s satisfactory annual review of the Borrower on or around October 10, 2019. On the Maturity Date, all advances must be repaid. The Lender may, in its sole discretion and upon the Borrower’s request, make advances to the Borrower after the Maturity Date subject to the terms and conditions under the Loan and Security Agreement.

Part of the proceeds of the initial credit extension of the Loan and Security Agreement were used to pay off borrowings owed to Prestige Capital Corporation, a former lender of the Borrower.

Interest is payable under the Loan and Security Agreement at a per annum rate equal to the Prime Rate (as defined in the Loan and Security Agreement) plus 2%.

The Borrower’s obligations under the Loan and Security Agreement are secured by all assets of the Company and ADEX Puerto Rico LLC. In addition, the Company, as the parent of the Borrower, is required to issue a warrant (the “Warrant”) to the Lender to purchase an amount of shares of the Company’s common stock equal to $150,000 divided by the Warrant Price (as defined in the Warrant) at a price per share equal to 125% of the prior day’s closing price.

The Loan and Security Agreement provides that upon the occurrence of an event of default, among other things, all outstanding amounts under the Loan and Security Agreement or any portion thereof becomes immediately due and payable. Events of default under the Loan and Security Agreement include, among other items, the Borrower’s failure to comply with certain affirmative and negative covenants relating to the Company, its securities and its financial condition.

The foregoing summaries of the terms of the Warrant and the Loan and Security Agreement are subject to, and qualified in their entirety by, the agreements and instruments attached hereto as Exhibits 4.1 and 10.1, respectively, which are incorporated by reference herein . "