Tempo Automation Holdings, Inc. Receives A Default Notice From Its Senior Lender Consortium
Portfolio Pulse from Benzinga Newsdesk
Tempo Automation Holdings, Inc. (NASDAQ:TMPO) has received a default notice from its senior lender consortium due to multiple breaches of the Loan Agreement, including failure to make monthly payments and suspension of business operations. The company and its subsidiaries are unable to cure such defaults or repay the indebtedness of $29,065,017. This could lead to foreclosure proceedings and a dramatic decline in the value of the company's securities.
September 21, 2023 | 8:35 pm
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Tempo Automation Holdings is in default with its senior lenders and unable to repay its debt. This could lead to foreclosure and a significant drop in the value of its securities.
The company has received a default notice due to multiple breaches of its loan agreement, including failure to make monthly payments and suspension of business operations. It is unable to cure these defaults or repay the debt, which could lead to foreclosure proceedings and a significant drop in the value of its securities.
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