urban-gro Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Unregistered Sales of Equity Securities, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
Forbearance Agreement and Exchange Agreement
As previously reported, on February 19, 2026, urban-gro, Inc (the “Company”) entered into an Exchange Agreement (the “Exchange Agreement”) by and among, by and among Agile Capital Funding, LLC, a New York limited liability company (“Collateral Agent”) and Agile Lending, LLC, a Virginia limited liability company (“Agile” or “Holder”), on the one hand, and the Company on the other hand. The Company, Collateral Agent, and Agile are sometimes herein referred to as, the “Parties,” and each a “Party”.
On June 24, 2025, the Parties entered into a Business Loan and Security Agreement (the “Loan Agreement”), pursuant to which the Company issued a Confessed Judgment Secured Promissory Note to Agile in the original principal amount of $1,050,000 (the “Note”), with the remaining principal and accrued and unpaid interest as of February 12, 2026 was $972,200.
On February 19, 2026, the Parties and urban-gro Canada Technologies Inc., a wholly owned subsidiary of the Company, entered into a forbearance agreement (the “Forbearance Agreement”), pursuant to which Agile agreed to forbear from exercising its rights and remedies available due to any default of the Loan Agreement and the Note by the Company, in exchange for the outstanding balance due under the Note being increased to $1,380,524.00 (the “Note Balance”).
Pursuant to the Exchange Agreement, the Company shall issue to Agile 37,505 shares of the Company’s common stock (the “Exchange Shares”), par value $0.001 per share (“Common Stock”), having an aggregate value of $90,762.10 (the “Note Exchange Amount”), with each Exchange Share being valued at $2.42, in exchange for the Note Balance being reduced by an amount equal to the Note Exchange Amount.
The foregoing descriptions of the Forbearance Agreement and the Exchange Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Forbearance Agreement and the Exchange Agreement, copies of which are filed as Exhibit 10.1 and 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
To the extent required by Item 3.02 of Form 8-K, the information contained in Item 1.01 is hereby incorporated by reference into this Item 3.02 in its entirety. The Exchange is being made in reliance on the exemption from securities registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”).
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed as part of, or incorporated by reference into, this Report.
| Exhibit No. | Description | |
| 10.1 | Forbearance Agreement, dated as of February 19, 2026, by and among Agile Capital Funding, LLC, Agile Lending, LLC, urban-gro, Inc., and urban-gro Canada Technologies Inc. | |
| 10.2 | Exchange Agreement, dated as of February 19, 2026, by and among Agile Capital Funding, LLC, Agile Lending, LLC, and urban-gro, Inc. | |
| 104* | Cover Page Interactive Data File (formatted as Inline XBRL) |
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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.
| Date: February 25, 2026 | URBAN-GRO, INC. | |
| By: | /s/ Bradley Nattrass | |
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Name: Bradley Nattrass Title: Chairman and Chief Executive Officer | ||
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