UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 1.01 Entry Into a Material Definitive Agreement.
On February 14, 2025, Laser Photonics Corporation (the “Company” or “Laser Photonics”) entered into a Business Loan and Security Agreement with an effective date of February 13, 2025 (the “Loan Agreement”) among Agile Capital Funding, LLC (“Agile Capital”), Agile Lending, LLC (“Agile Lending”) the Company and its subsidiary, Control Micro Systems Florida, LLC, under which the Company received a term loan in the principal amount of $1,050,000 with total interest of $512,000 (the “Loan”) to be repaid through weekly principal and interest payments of $54,000 commencing February 24, 2025, and ending September 1, 2025, subject to payment of a $50,000 administrative agent fee paid to Agile Capital. The Loan is secured by a blanket lien on the Company’s assets. The Loan may be prepaid subject to payment of prepayment fee equal to the aggregate and actual amount of interest (at the contract rate of interest) that would be paid through the maturity date (defined as 28 weeks from the effective date).
The foregoing description of the Loan Agreement is qualified in its entirety by reference to the full text of that agreement, a copy of each of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibits
| Exhibit No. | Description | |
| 10.1 | Business Loan and Security Agreement, dated February 13, 2025, among Agile Capital Funding, LLC, Agile Lending, LLC, Laser Photonics Corporation and Control Micro Systems Florida, LLC | |
| 104 | Cover Page Interactive Data File |
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SIGNATURES
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.
| Date: February 21, 2025 | Laser Photonics Corporation | |
| By: | /s/ Wayne Tupuola | |
| Wayne Tupuola | ||
| President and CEO | ||
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