Maison Solutions Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
On September 8, 2025, our subsidiaries Lee Lee Oriental Supermart, LLC (“Lee Lee”) and AZLL LLC (“AZLL”) closed a Business Loan Agreement (the “Agreement”) with Royal Business Bank (“RBB”) which provided secured financing in the principal amount of $5,250,000. The loan from RBB is further documented by a Promissory Note (the “Note”). The Note bears interest at a rate of 7.5% per year and requires monthly payments of principal and interest in the amount of $91,039.77, with a final ballon payment in the amount of $1,139,916.57 due at maturity on September 5, 2030. The Note is secured by a substantially all assets of Lee Lee under the terms of a Commercial Security Agreement (the “Security Agreement”) and is personally guaranteed by our CEO, John Xu, and his spouse, Grace Xu. In addition, Mr. Xu has pledged certain real property as collateral security for his guaranty of the loan.
AZLL, our wholly owned subsidiary, owns 100% of the equity interests in Lee Lee, which owns and operates a three-store supermarket chain operating under the name Lee Lee International Supermarkets in the greater Phoenix and Tucson, Arizona metro areas. AZLL acquired 100% of the equity interests in Lee Lee on April 8, 2024 for an aggregate purchase price of approximately $22.2 million, consisting of $7.0 million in cash paid at closing and a Secured Note with an original principal amount of approximately $15.2 million pursuant to a Senior Secured Note Agreement. The Senior Secured Note Agreement was amended on October 21, 2024 and further modified on March 12, 2025. The proceeds of loan from RBB were used to retire the remaining secured debt owing under the original Senior Secured Note Agreement.
The Agreement, the Note, and Security Agreement, which are filed herewith as Exhibits 10.1, 10.2, and 10.3, respectively, and incorporated herein by reference, should be reviewed for additional information.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 10.1 | Business Loan Agreement | |
| 10.2 | Promissory Note | |
| 10.3 | Commercial Security Agreement | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Maison Solutions Inc. | ||
| Date: September 10, 2025 | By: | /s/ John Xu |
| Name: | John Xu | |
| Title: | Chief Executive Officer | |
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