EBET gets waiver of loan covenants until Jan. 9, in talks for amendment

By Marisa Wong

Los Angeles, Dec. 22 – EBET, Inc. obtained on Dec. 16 a limited waiver of some covenants under its $30 million credit agreement dated Nov. 29, 2021 with CP BF Lending, LLC, according to an 8-K filing with the Securities and Exchange Commission.

The loan required the company to maintain certain minimum liquidity and other financial and other covenants.

The limited waiver is valid until Jan. 9, 2023.

The company does not expect to satisfy some of the covenants prior to Jan. 9 and is currently in discussions with the lender on modifying the financial covenants, but there is no assurance that the company will be successful in making such changes, according to Thursday’s 8-K filing.

EBET is a Las Vegas-based provider of esports wagering products and technology.

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