**Giftify, Inc. Expands Financial Agreement with Spars Capital Group**

Giftify, Inc. (NASDAQ: GIFT), a Delaware-based company, expanded a financial agreement with Spars Capital Group LLC on January 22, 2025. According to a recent 8-K filing with the Securities and Exchange Commission, the company had initially entered into a secured promissory note with Spars Capital on September 20, 2024. The note, valued at $2,000,000 with an annual interest rate of 11.5%, was set to mature on January 20, 2025. As part of the agreement, the note was collateralized by a blanket lien on Giftify’s assets, subordinate only to a line of credit owed to Pathward, National Association.

On January 22, 2025, Giftify made a significant payment to Spars Capital under an Allonge to Promissory Note. The company paid $1,000,000 towards the principal amount due and an interest payment of $77,506.85. In addition, both parties agreed to extend the remaining principal balance deadline to February 19, 2025. The payment also included accrued interest, resulting in a total payment of $1,009,583.33.

The Allonge agreement will include additional customary terms and conditions. While the details provided are a summary, the complete terms of the Allonge agreement can be referenced in Exhibits 10.1 of the Current Report on Form 8-K filed with the SEC.

Regarding financial statements and exhibits, Giftify filed the Allonge to Promissory dated January 22, 2025, as Exhibit 10.1. Additionally, a Cover Page Interactive Data File was embedded within the Inline XBRL document as Exhibit 104.

Giftify, Inc. marked itself as an emerging growth company and indicated its decision not to utilize the extended transition period for complying with any new financial accounting standards. The filing was signed on behalf of the company by Ketan Thakker, the President and CEO, on January 28, 2025.

This news provides an insight into Giftify, Inc.’s ongoing financial transactions and agreements, showcasing the company’s strategic financial management and commitment to its financial obligations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RDE’s 8K filing here.

About RDE

RDE, Inc owns and operates a restaurant deal space in the United States. The company operates Restaurant.com that connects digital consumers, businesses, and communities with dining and merchant deal options at approximately 182,500 restaurants and retailers to approximately 7.8 million customers. It sells discount certificates for restaurants, as well as complementary entertainment and travel offerings, and consumer products on behalf of third-party merchants.