Onar Holding entered into a Settlement Agreement and Mutual Release with Jeffrey L. Feinberg Personal Trust to resolve litigation related to a $1.5 million senior secured promissory note. The company will pay $1.5 million plus 18% simple interest from Mar 18, 2024, via $50,000 within one business day of signing, $300,000 by Aug 30, 2026, fourteen quarterly installments of $75,000, and a final true-up due on the first business day of Feb 2030. The parties will dismiss the lawsuit, exchange mutual releases, and agree to non-disparagement and trading restrictions.
Agreement details:
- Agreement type: Settlement agreement and mutual release for $1.5M note repayment
- Counterparty: Jeffrey L. Feinberg Personal Trust
- Signed / Effective: Jul 16 2026 / Jul 13 2026
- Duration / Termination: Through Feb 2030
- Reason: Resolve litigation over unpaid promissory note and clarify payment terms
Original SEC Filing:
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