On January 7, 2025, Mill City Ventures III, Ltd. announced the extension of its Fourth Short-Term Loan Agreement and related $10 million principal amount Fourth Short-Term Promissory Note with Mustang Funding, LLC. The new agreement, effective as of January 7, 2025, extends the maturity date of the loan and note to January 21, 2025. This recent amendment marks the latest development in the ongoing financial agreement between the two entities.
Additionally, the company held its 2024 annual meeting of shareholders on December 19, 2024. During this meeting, shareholders voted on the proposal to elect five members to the Board of Directors for a one-year term. The voting results were as follows:
– Joseph A. Geraci, II: 3,194,428 votes for, 0 against, 9,684 abstentions, and 0 broker non-votes.
– Howard P. Liszt: 3,191,167 votes for, 0 against, 12,945 abstentions, and 0 broker non-votes.
– Douglas M. Polinsky: 3,198,037 votes for, 0 against, 6,075 abstentions, and 0 broker non-votes.
– Laurence S. Zipkin: 3,194,378 votes for, 0 against, 9,734 abstentions, and 0 broker non-votes.
Following the shareholder meeting, Mill City Ventures III, Ltd. intended to file a current report detailing the voting results on December 20, 2024, however, a miscommunication with the company’s financial printer prevented the filing from being submitted at that time.
As a part of the SEC filing, a copy of the amendment to the loan agreement between Mill City Ventures III, Ltd. and Mustang Funding, LLC has been provided as an exhibit. This latest development underscores the company’s commitment to its financial agreements and transparency with its shareholders.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mill City Ventures III’s 8K filing here.
Mill City Ventures III Company Profile
Mill City Ventures III, Ltd. is a principal investment firm specializing investments in debt and equity securities of public and private companies to fund their operations whether its start-up, acquisition, or growth. It primarily focuses on investing in, lending to, and making managerial assistance available to privately held and publicly traded companies.
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