Genasys Inc. has entered into a First Amendment to its Loan Agreement with Maran Partners Fund, LP, a Delaware limited partnership, to modify the terms of an existing unsecured term loan. The amendment was executed and closed on September 14, 2026.
Under the original Loan Agreement, dated June 9, 2026, the Lender extended a term loan to the Company in the principal amount of $4,300,000. Concurrent with the closing of the amendment, Genasys repaid $800,000 of the principal. As a result, the principal amount outstanding under the Term Loan is $3,500,000.
The First Amendment modifies the maturity date of the Term Loan, extending it from September 14, 2026, to October 30, 2026. Additionally, the amendment reduces the advance notice required for optional prepayments from 30 days to 3 business days.
The Company paid an amendment fee of $92,500 at closing. The amendment fee is the only financial modification to the agreement; the material terms of the Loan Agreement remain unchanged. The original agreement contains customary representations and warranties, affirmative and negative covenants, Events of Default, and remedies. It also includes provisions for mandatory prepayment upon the occurrence of specific events, such as a change of control, asset sales outside the ordinary course of business, and certain equity issuances.
