NewsMV
entered into a Note Purchase Agreement with Ocean Partners UK Limited on October 2, 2026, securing a $5.0 million secured promissory note.
The company, which trades on NYSE American under the ticker SBMT, issued the note for a cash purchase price of $5.0 million as part of a previously announced term sheet.
The note matures on March 31, 2027, and bears interest at the 12-month secured overnight financing rate provided by CME Group plus 6.75% per annum, payable monthly in arrears starting November 1, 2026.
The principal amount will not amortize but will be satisfied in one of two ways.
Keep reading