Opening the filing
8-K
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.02. Termination of a Material Definitive Agreement On October 9, 2026, Adia Med, Inc. (the “Company”) fully repaid and discharged its unsecured revolving line of credit facility originally entered into on June 30, 2024, between Larry Powalisz, Chief Executive Officer of the Company, as lender (the “Lender”), and the Company (and its relevant subsidiaries, as applicable), as borrower.
The Facility had been increased over time to a commitment of $1,000,000 by the Lender, to best accommodate the growth needs of the Company, and bore interest at 6% per annum calculated daily.
In satisfaction of the obligation to the Lender, the Company made the following payments to the Lender:
October 7, 2026: $500,000;
October 9, 2026: $434,970.94 (of which $74,658.94 constituted accrued interest, and the balance applied to principal).
Total amount paid to the Lender was $934,970.94.
The Lender has acknowledged that the outstanding principal balance and all accrued interest under the Facility have been paid in full as of October 9, 2026. As a result, the Facility is satisfied in full, with respect to all amounts owing through that date.
The Lender, a related party, is the Chief Executive Officer of the Company.
The foregoing facility is satisfied and discharged and qualified in its entirety by reference to the full text of the Paid-in-Full Acknowledgment dated October 9, 2026, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.