Fathom Holdings Inc. has entered into a third amendment for its Senior Secured Convertible Promissory Notes, effective November 2, 2026. This amendment extends the debt's maturity date by one month and defers all accrued and future interest payments until the new maturity date. In exchange for the extension, the company will incur a new weekly fee.
Key Details
- Maturity Date Extension: The maturity date of the notes has been extended from November 1, 2026, to November 30, 2026.
- Interest Deferral & Terms: All accrued and future interest is deferred until the new maturity date. Existing accrued interest will now also bear interest at the previously established rate of 18% per annum.
- Weekly Extension Fee: The company will incur a weekly fee equal to 0.5% of the outstanding principal, which will be added to the accrued interest each week in November if the notes remain outstanding.
- Related-Party Involvement: The Chairman of the company's Board of Directors, Scott Flanders, is a holder of one of the amended notes. The transaction was approved by independent board members.