BMTM · Bright Mountain Media, Inc.

The Twenty-Fifth Amendment to the Credit Agreement provides critical near-term liquidity relief for Bright Mountain Media, Inc. by fully deferring the March 31, 2026 principal amortization of $1.2 million on Second Out Loans until the facility's maturity on December 20, 2026, and converting the accrued interest payment of $201,000 to payable-in-kind, avoiding immediate cash outflows. This restructuring addresses pressing debt service obligations amid ongoing operations involving multiple subsidiaries including CL Media Holdings LLC, Bright Mountain LLC, MediaHouse, Inc., Deep Focus Agency LLC, and BV Insights LLC. As consideration, the Company issued 2,922,566 shares representing 1.5% of fully-diluted pro forma ownership to Centre Lane Partners, increasing their beneficial ownership to 27.3% alongside affiliates, which strengthens their influence over corporate decisions. New covenants mandate prompt notification to Lenders regarding changes with key vendors or new vendor engagements meeting specified criteria, potentially limiting operational flexibility. Upcoming maturities remain substantial at $1.6 million by June 30, 2026, and $92.1 million at maturity, underscoring the need for further refinancing or repayment strategies to manage long-term leverage.