Dalrada Technology Group, Inc. 8-K

What Happened Dalrada Technology Group, Inc. announced in an 8-K that on April 24, 2026 it and certain subsidiaries received a notice of default from counsel to Nautilus Parent Holdings, LLC (successor-in-interest to OnPoint LTB, LLC) and Nautilus Funding Solutions, LLC – Series XIII. The notice declares defaults under multiple loan documents — including the Term Loan Agreement dated July 25, 2023, several Loan and Security Agreements from 2024, and a Loan and Security Agreement dated February 25, 2025 — and demands a cure payment of $500,000 by May 1, 2026. The lenders state that if the cure payment is not made they will accelerate the loan balances and may immediately commence enforcement actions; the notice also reserves all lender rights. The company is reviewing the notice and intends to engage with the lenders, but said there is no assurance the defaults will be cured or that enforcement will not occur.

Key Details

• Notice date: April 24, 2026; cure payment demanded by May 1, 2026.
• Cure amount: $500,000 required to avoid acceleration/enforcement.
• Agreements cited: Term Loan Agreement (July 25, 2023) plus related promissory note, guaranty, security agreements, warrant and amendments; four Loan and Security Agreements dated Feb 22, 2024; Mar 22, 2024; Apr 5, 2024; Apr 18, 2024 (Genefic Specialty RX, Inc. with Term Lender); and a Loan and Security Agreement dated Feb 25, 2025 (Genefic, Inc., the Company, and the Factoring Lender).
• Lenders: Nautilus Parent Holdings, LLC (successor-in-interest to OnPoint LTB, LLC) and Nautilus Funding Solutions, LLC – Series XIII.

Why It Matters This filing signals a material lender dispute that could affect Dalrada’s liquidity and obligations. If the cure payment is not made and lenders accelerate the loans, the company could face immediate repayment demands and potential enforcement actions under the loan documents, which could have material financial and operational consequences. Dalrada’s outcome depends on its discussions with the lenders; investors should monitor future disclosures for whether the cure is made, loans are accelerated, or enforcement actions are initiated.