NIMU Guarantees $1M Bridge Loan for Gravitics Ahead of Reverse Merger
Summary
NIMU guaranteed a $1 million bridge loan to Gravitics, its reverse-merger target, with costly terms and mandatory repayment from the pending $125 million IPO.
Key Events · Financing and Capital Events · NIMU
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$1M Bridge Loan to Gravitics
Gravitics entered into a $1,000,000 unsecured credit facility with BZH SPO LLC on August 17, 2026, funded the next day, to cover working capital until the merger and offering close.
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Costly Loan Terms
The note carries 4.0% interest per 30-day period plus a 50% original issue discount per 30-day period, with a 3.0% default premium after 60 days — effectively doubling the cost if held for two months.
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NIMU Guarantee Effective at Merger
NIMU executed a Guarantee and Assumption Agreement, becoming jointly and severally liable for the loan upon consummation of the reverse merger with Gravitics.
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Mandatory Repayment from IPO Proceeds
The note matures 60 days after funding and must be repaid in full from proceeds of the proposed $125 million public offering or other Priority Proceeds.
Analysis · NIMU · Manufacturing
Gravitics, the target in NIMU's pending reverse merger, borrowed $1 million from BZH SPO LLC to fund working capital until the merger and $125 million IPO close. NIMU signed a guarantee making it jointly liable for the loan once the merger completes. The terms are expensive: 4% interest per 30 days plus a 50% original issue discount per 30 days, effectively doubling the cost if held for two months. The loan must be repaid from offering proceeds, adding pressure to complete the IPO. This is a material new financing commitment for a company already under going-concern warning.
At the time of this filing, NIMU was trading at $0.07 on OTC in the Manufacturing sector, with a market capitalization of approximately $10.8M. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.