Perfect Moment lifts credit line to $11.5M, but faces six-week deadline
What's the deal? Perfect Moment (OTCQB: PMNT) amended its loan agreement on October 9, 2026, raising its aggregate revolving commitment from $10 million to $11.5 million. The deal, with X3 Higher Moment Fund LLC and Krane Capital LLC, came alongside a narrow six-week waiver tied to management changes.
The details: The original agreement, signed March 30, 2026, carried a $10 million principal. The second amendment lifts X3's revolving commitment from $8 million to $9.5 million, while Krane Capital's stays at $2 million.
Why the waiver? The amendment triggered a key person event after the resignation of Chath Weerasinghe and the cessation of Martin Gottschalk's usual role. Lenders waived the resulting restrictions and potential default — but only through 23:59 New York time six weeks after October 9.
What could go wrong? If Perfect Moment fails to appoint an approved successor with similar experience before the deadline, the waiver terminates automatically. The key person cure period is then deemed expired, an event of default occurs, and lenders may halt further borrowing and exercise their remedies.
The filing was signed by president Jane Gottschalk on October 15, 2026. Perfect Moment is an emerging growth company incorporated in Delaware and trading on the OTCQB Venture Market.
The signal: The injection gives the apparel company more liquidity, but the attached conditions underline organisational disruption. Fresh debt buys room to operate; a six-week clock on leadership continuity defines how much.
Read more: minichart.com.sg
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