STOCK TITAN

Genasys extends $3.5M term loan to Oct. 30

Genasys Inc. (GNSS) amended its existing unsecured Term Loan with Maran Partners Fund, LP.

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Genasys Inc. (GNSS) amended its existing unsecured Term Loan with Maran Partners Fund, LP. The original principal was $4,300,000; at the September 14, 2026 closing of the First Amendment, Genasys made an $800,000 principal repayment, leaving $3,500,000 outstanding under the Term Loan.

The First Amendment extends the loan’s maturity from September 14, 2026 to October 30, 2026 and reduces the advance notice required for optional prepayments from 30 days to 3 business days. Genasys paid an amendment fee of $92,500 at closing. Other material terms of the Loan Agreement, including customary representations and warranties, affirmative and negative covenants, Events of Default (including change of control), indemnification obligations, and mandatory prepayment provisions tied to change of control, certain asset sales, and certain equity issuances, remain in place.

Positive

  • None.

Negative

  • None.

Filing Explained

Against the June 30, 2026 balance sheet, the amended loan’s $3,500,000 principal due October 30, 2026 exceeds reported cash of $3,068,000; that cash equaled 95.2 days of the quarter’s historical operating cash use.

Sources and calculations
  • Available liquidity against the last reported quarterly operating outflow, in days at that rate $3,068,000 / ($2,934,000 / 91) = 95.2 days
Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Original Term Loan principal $4,300,000 Unsecured term loan extended by Maran Partners Fund, LP to Genasys Inc.
Principal repaid at amendment closing $800,000 Paid concurrently with closing of the First Amendment on September 14, 2026
Outstanding Term Loan principal $3,500,000 Principal amount outstanding after giving effect to the repayment
Amendment fee $92,500 Fee imposed on Genasys Inc. under the First Amendment and paid at closing
New maturity date October 30, 2026 Extended from prior maturity date of September 14, 2026
Prepayment notice period 3 business days Reduced from 30 days for optional prepayments under the Loan Agreement
Term Loan financial
"extended an unsecured term loan to the Company in the principal amount"
A term loan is a type of loan that is borrowed for a set period of time, with a fixed schedule for repaying the money, usually in regular payments. It matters to investors because it represents a company's borrowing costs and financial stability; reliable repayment of these loans can indicate strong financial health, while difficulties may signal potential risks.
affirmative and negative covenants financial
"affirmative and negative covenants (including, without limitation, restricting"
Events of Default financial
"Events of Default (including a change of control) and remedies thereupon"
Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.
mandatory prepayment financial
"provides for mandatory prepayment of the Loan upon the occurrence of certain events"
change of control financial
"Events of Default (including a change of control) and remedies thereupon"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What loan change did Genasys Inc. (GNSS) report on September 14, 2026?

Genasys Inc. entered into a First Amendment to its Loan Agreement with Maran Partners Fund, LP, extending the unsecured Term Loan maturity to October 30, 2026 and adjusting prepayment notice terms while keeping other material provisions in effect.

How much principal remains outstanding on Genasys (GNSS) term loan after the amendment?

After repaying $800,000 of principal concurrently with the First Amendment closing, the principal amount outstanding under the unsecured Term Loan is $3,500,000.

What fee did Genasys Inc. (GNSS) pay for the First Amendment to its loan?

Genasys Inc. paid an amendment fee of $92,500 to Maran Partners Fund, LP at the closing of the First Amendment to the Loan Agreement on September 14, 2026.

How did the First Amendment change Genasys (GNSS) prepayment terms?

The First Amendment reduced the advance notice period required for optional prepayments of the Term Loan from 30 days to 3 business days, while such prepayments remain subject to the Loan Agreement’s terms.

What are some key covenants and triggers in the Genasys (GNSS) Loan Agreement?

The Loan Agreement includes affirmative and negative covenants, restrictions on distributions, indebtedness, fundamental changes, asset sales, and redemptions, plus Events of Default including change of control and mandatory prepayment upon certain change-of-control events, asset sales, and equity issuances.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates
false000092438300009243832026-09-142026-09-14

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 14, 2026

 

 

Genasys Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

000-24248

87-0361799

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

16262 West Bernardo Drive

 

San Diego, California

 

92127

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 858 676-1112

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common stock, $0.00001 par value per share

 

GNSS

 

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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.

 


1.01 Entry into a Material Definitive Agreement.

On September 14, 2026, Genasys Inc. (the “Company”) entered into, and closed on, a First Amendment to Loan Agreement (the “First Amendment”) with Maran Partners Fund, LP, a Delaware limited partnership (the “Lender”), to amend that certain Loan Agreement, dated as of June 9, 2026, between the Company and the Lender (as amended, the “Loan Agreement”), pursuant to which the Lender had extended an unsecured term loan to the Company in the principal amount of $4,300,000 (the “Term Loan”). Concurrently with closing on the First Amendment, the Company repaid $800,000 of such principal amount. Giving effect to such repayment, the principal amount outstanding under the Term Loan is $3,500,000.

Among other things, the First Amendment (i) extended the maturity date of the Term Loan from September 14, 2026 to October 30, 2026 and (ii) reduced the advance notice required for optional prepayments, permitted under the Loan Agreement subject to the terms contained therein, from 30 days to 3 business days. The First Amendment imposed an amendment fee of $92,500 on the Company, which was paid at closing.

Except as set forth above, the First Amendment did not modify the material terms of the Loan Agreement, which contains customary representations and warranties of the Company, affirmative and negative covenants (including, without limitation, restricting the Company from certain distributions, indebtedness, fundamental changes, sales of assets, and redemptions), Events of Default (including a change of control) and remedies thereupon, indemnification obligations of the Company, and other obligations and rights of the parties. The Loan Agreement also provides for mandatory prepayment of the Loan upon the occurrence of certain events, including a change of control of the Company, certain asset sales outside the ordinary course of business, and certain equity issuances.

The foregoing description of the First Amendment is qualified by reference to the full text of the First Amendment, which is filed as Exhibit 10.1 hereto and incorporated herein by reference. The First Amendment has been included to provide investors with information regarding its terms. The representations, warranties and covenants contained in the First Amendment were made only for purposes of the First Amendment and as of specific dates, were solely for the benefit of the Lender, are subject to limitations agreed upon by the parties thereto, and should not be relied upon by investors.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The disclosure set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

 

Description

 

 

 

10.1

 

First Amendment to Loan Agreement, dated September 14, 2026, between Genasys Inc. and Maran Partners Fund, LP.

 

 

 

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Genasys Inc.

 

 

 

 

Date:

September 14, 2026

By:

/s/ Cassandra L. Hernandez-Monteon

 

 

 

Cassandra L. Hernandez-Monteon
Chief Financial Officer

 

 


Filing Exhibits & Attachments

2 documents

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