PodcastOne, Inc. (PODC) Form 8-K — Nov 4, 2026
PodcastOne entered a Forbearance Agreement and Amendment to Debentures dated October 29, 2026 alongside its majority parent LiveOne and holders of LiveOne's 11.75% senior secured convertible debentures, led by JGB entities and Chicago Atlantic Adams. The lenders agreed to forbear from remedies on an Event of Default under Section 7(a)(iii) of the Debentures that occurred prior to the effective date. Under the deal, the agent retains about $5.25 million already transferred to it, and LiveOne must pay an additional $1.0 million within 30 days and $1.25 million within 60 days, bringing the aggregate toward a $7.5 million Cash Target.
Key figures
- Debt Amount
- $15,130,182.95 (aggregate Obligations in respect of the Debentures as of October 22, 2026, before Transferred Funds)
- Interest Rate
- 11.75
- Maturity Date
- May 19, 2028
- Exit fee
- greater of $1,000,000 or 1.5% of PODC Sale Proceeds above $50,000,000
- Cash target
- $7,500,000
- Liquidated damages
- 2% of outstanding principal per 30-day period, capped at 4%
- Forbearance fee shares
- 275000
- Initial payment due 30 days
- $1,000,000
- Additional payment due 60 days
- $1,250,000
- Transferred funds retained by agent
- $5,246,811.22
AI analysis
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