Bifogade filer
Maximum Entertainment, LLC in USA has received notice of default under its loan agreements with Cathay Bank
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Sällanköp |
| Industri | Gaming |
Stockholm, Sweden (April 1, 2025) - Maximum Entertainment AB (Nasdaq: MAXENT B) today announced that the company’s US subsidiary Maximum Entertainment, LLC has received a notice of default and demand of payment in full of its credits with Cathay Bank of not less than USD 5,547,801 and no later than on April 10, 2025.
As announced on November 27, 2024, Maximum Entertainment has been negotiating its credit engagements with its lenders. One of the lenders, Cathay Bank, has now ceased negotiations and formally declared Maximum Entertainment, LLC in the US in default of its credits in the bank demanding payment of the full outstanding amount of not less than USD 5,547,801 including fees and late charges. Maximum Entertainment, LLC has been granted a cure period until April 10, 2025 to repay the amount to Cathay Bank.
The default notice applies to Maximum Entertainment, LLC, a subsidiary of MG1 Acquisition Corp. Maximum Entertainment, LLC is the parent company of Maximum Entertainment UK Ltd (UK), Maximum Entertainment Ireland Ltd (Ireland), Modus Games, LLC (USA), Maximum Entertainment Brazil Ltda (Brazil), Maximum Entertainment SRL (Romania) and Maximum Games GmbH (Germany).
Subsidiaries held directly by Maximum Entertainment AB are at this stage not affected. These subsidiaries are Maximum Entertainment Sweden AB, Merge Games Ltd (UK), Maximum Entertainment France SAS (France), Maximum Entertainment Hungary Kft (Hungary) and MG1 Acquisition Corp. (USA).
Maximum Entertainment, LLC is not in a financial position to proceed with payment at this time and the Group is seeking to find a solution to the situation.