Other Information
−Removed: On April 13, 2020, the Company received the proceeds from a loan in the amount of $656,830 (the “PPP Loan”) from JPMorgan Chase Bank, N.A.
−Removed: (the “Lender”) pursuant to the Paycheck Protection Program
−Removed: (the “PPP”) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) administered by the U.S.
−Removed: Small Business Administration (“SBA”).
−Removed: The PPP Loan matures on April 10, 2022 and bears interest at a rate of 0.98% per annum.
−Removed: Commencing November 10, 2020, we are required to pay the Lender equal monthly payments of principal and interest as necessary to fully amortize by April 10, 2022 the principal amount outstanding on the PPP Loan as of October 10, 2020.
−Removed: We may prepay
−Removed: the PPP Loan at any time prior to maturity with no prepayment penalties.
−Removed: The PPP Loan is evidenced by a promissory note dated April 10, 2020, which contains various certifications and agreements related to the PPP, as well customary default and other
−Removed: The PPP Loan is unsecured by the Company and is guaranteed by the SBA.
−Removed: All or a portion of the PPP Loan may be forgiven by the SBA upon application by the Company accompanied by documentation of
−Removed: expenditures in accordance with SBA requirements under the PPP.
−Removed: In the event all or any portion of the PPP Loan is forgiven, the amount forgiven will be applied to outstanding principal.
+Added: Subsequent to September 27, 2020, the Company has sold 2,539,682 shares of its common stock at an average sale price of $1.48 per share pursuant to the 2017 ATM Offering, realizing aggregate gross proceeds of $3.8
+Added: The 2017 ATM Offering expired on November 6, 2020.
Amended and Restated Articles of Incorporation of Rave Restaurant Group, Inc.
5 unchanged sentences
Supplemental Indenture Number (filed as Exhibit 4.1 to Form 8-K filed November 9, 2017 and incorporated herein by reference).
−Removed: Letter agreement dated December 16, 2019, between Rave Restaurant Group, Inc.
−Removed: and Clinton Fendley (incorporated by reference to Exhibit 10.1 to the registrant’s Current Report on Form 8-K filed January 7,
−Removed: Note, dated April 10, 2020, by and between Rave Restaurant Group, Inc.
−Removed: and JPMorgan Chase Bank, N.A.
−Removed: (incorporated by reference to Exhibit 10.1 to the registrant’s Current Report on Form 8-K filed April 16,
Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer.
3 unchanged sentences
Interactive data files pursuant to Rule 405 of Regulation S-T.
−Removed: Management contract or compensatory plan or agreement.
−Removed: Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
+Added: Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly
RAVE RESTAURANT GROUP, INC.
5 unchanged sentences
(principal financial officer)
−Removed: June 29, 2020
+Added: November 12, 2020
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.