BMTM · Bright Mountain Media, Inc.

Bright Mountain Media executed the Twenty-Fifth Amendment to its Senior Secured Credit Agreement with Centre Lane Partners to address near-term liquidity constraints. The amendment provides immediate relief by deferring a $1.2 million principal payment and allowing approximately $201,000 in interest to be paid-in-kind, preserving cash for operations. In exchange for these concessions, the Company issued 2,922,566 shares of common stock, representing 1.5% of fully-diluted pro forma ownership, diluting existing shareholders. This transaction increases Centre Lane Partners' stake to 27.3%, solidifying its position as a significant stakeholder. The restructuring extends the principal repayment to the maturity date of December 20, 2026, where approximately $92.1 million remains due. The inclusion of vendor notification covenants suggests lenders are seeking increased oversight regarding operational expenditures. This amendment indicates the Company is managing tight liquidity while successfully negotiating with lenders to avoid immediate default, though the substantial remaining balance due at maturity represents a significant refinancing risk.