BioRestorative Therapies, Inc. 8-K

What Happened

• BioRestorative Therapies, Inc. (BRTX) announced on June 10, 2026 that it entered into a Revolving Loan Agreement with Bowery Group LLC allowing the company to borrow up to $1,000,000 in aggregate principal at its discretion. Loans will be evidenced by a revolving promissory note and may be used for general corporate purposes.
• The Revolving Promissory Note carries a 12% annual interest rate; if an Event of Default occurs the default interest rate is 16% per annum. Each loan’s maturity (the Maturity Date) is one year after the closing of that loan, at which time outstanding principal and accrued interest become due.

Key Details

• Lender: Bowery Group LLC; total facility size: up to $1,000,000.
• Interest: 12% per year; default rate: 16% per year if an Event of Default occurs.
• Maturity: each Loan is due in full on the first anniversary of its closing; loans may be prepaid and reborrowed under the agreement, but no new loans may be requested after the 10th business day before maturity.
• Governance impact: the filing references director resignations and the appointment of new directors designated by the lender (see Item 5.02), indicating the lender obtained the right to designate board members.

Why It Matters

• Liquidity: The facility provides near‑term non‑equity financing up to $1M to fund operations or other corporate needs, which can help the company manage cash needs without issuing stock.
• Cost and risk: The interest rate (12%) and higher default rate (16%) are relatively costly compared with many bank lines; loans mature within a year, so the company may need to repay, refinance, or otherwise address the balance quickly.
• Governance: Lender‑designated board changes are material for investors because they increase Bowery Group’s influence over company decisions and could affect strategy or future financing choices.