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    Mill City Ventures III Ltd. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

    12/18/24 5:29:11 PM ET
    $MCVT
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    mcvt_8k.htm
    0001425355false00014253552024-12-182024-12-18iso4217:USDxbrli:sharesiso4217:USDxbrli:shares

     

    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):  December 18, 2024

     

    MILL CITY VENTURES III, LTD.

    (Exact name of registrant as specified in its charter)

     

    Minnesota

     

    001-41472

     

    90-0316651

    (State or other jurisdiction

     

    (Commission File Number)

     

    (IRS Employer

    of incorporation)

     

     

    Identification No.)

     

    1907 Wayzata Boulevard, Suite 205

    Wayzata, MN 55391

    (Address of principal executive offices)

     

    (952) 479-1923

    (Registrant's telephone number, including area code)

     

    N/A

     (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))

     

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

     

    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. ☐

     

     

     

     

    Item 1.01 Entry into a Material Definitive Agreement.

     

    Effective December 18, 2024, Mill City Ventures III, Ltd. and Mustang Funding, LLC entered into an amendment to their Fourth Short-Term Loan Agreement and related $10 million principal amount Fourth Short-Term Promissory Note, dated September 29, 2023 (as earlier amended on April 29, 2024, and November 18, 2024). The new amendment extends the stated maturity date of the loan and note to January 7, 2025. A copy of the amendment is being filed as an exhibit to this report.

     

    Item 9.01 Financial Statements and Exhibits.

     

    (d) Exhibits.

     

    Ex. No.

     

    Description

    10.1

     

    Amendment No. 3 to Short-Term Loan Agreement and Short-Term Promissory Note, between Mill City Ventures III, Ltd., and Mustang Funding, LLC, dated effective December 18, 2024

     

     

    2

     

     

    SIGNATURE

     

    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.

     

     

    MILL CITY VENTURES III, LTD.

     

     

     

     

     

    Date: December 18, 2024

     

     

     

    By:

    /s/ Joseph A. Geraci, II

     

     

     

    JOSEPH A. GERACI, II

     

     

     

    Chief Financial Officer

     

     

     

    3

     

     

    Exhibit Index

     

    Ex. No. 

     

    Description

    10.1

     

    Amendment No. 3 to Short-Term Loan Agreement and Short-Term Promissory Note, between Mill City Ventures III, Ltd., and Mustang Funding, LLC, dated effective December 18, 2024

     

     

    4

     

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