Bright Mountain Media, Inc. Announces Amendment to Senior Secured Credit Agreement

BOCA RATON, FL — April 6, 2026 — Bright Mountain Media, Inc. (the “Company”) has filed a Form 8-K with the U.S. Securities and Exchange Commission, disclosing significant amendments to its Amended and Restated Senior Secured Credit Agreement with Centre Lane Partners and other lenders. This development contains several key points of interest for shareholders and potential investors.

Key Highlights from the Report

• Significant Amendment to Debt Terms:
  • On March 31, 2026, Bright Mountain Media and its subsidiaries executed the Twenty-Fifth Amendment to their Senior Secured Credit Agreement with Centre Lane Partners and other lenders.
• Deferral of Loan Repayment:
  • The Company deferred the entire \$1.2 million quarterly installment due on March 31, 2026, for its Second Out Loans. This payment is now due on December 20, 2026, providing a temporary relief to the Company’s cash flow.
• Interest Payment Adjustments:
  • Interest accrued on the Second Out Loans for the period ended March 31, 2026, totaling approximately \$201,000, will be paid in-kind (PIK) instead of cash. This means the Company will not need to make a cash outlay for this interest payment, which instead will be added to the principal loan balance.
• Operational Covenants:
  • The Company is now required to notify lenders of any termination or material changes to agreements with key vendors, or if it intends to engage any additional vendors meeting certain criteria. This introduces tighter operational oversight from lenders.
• Equity Issuance to Lender:
  • As consideration for the amendment, Bright Mountain Media agreed to issue Centre Lane Partners 2,922,566 shares of common stock (par value \$0.01), representing approximately 1.5% of the fully-diluted pro forma ownership of the Company as of March 31, 2026.
  • Following this issuance, Centre Lane Partners and its affiliates will collectively own approximately 27.3% of the Company’s common stock, making them a highly influential shareholder.
• Upcoming Debt Maturities:
  • Approximately \$1.6 million will be due under the Credit Agreement by June 30, 2026.
  • A substantial \$92.1 million will be due at the maturity date of December 20, 2026.

Potential Shareholder Impact & Price Sensitivity

• Liquidity Relief, but Debt Pressure Remains: The deferral of both principal and interest payments provides immediate liquidity relief, but it increases the lump-sum payment due at the end of 2026. Shareholders should monitor the Company’s ability to generate sufficient cash flow or refinance before the large maturity.
• Dilution Risk: The new share issuance to Centre Lane Partners dilutes existing shareholders. However, the relatively small percentage (1.5%) is outweighed by Centre Lane Partners’ now sizeable 27.3% ownership, giving them significant influence over corporate decisions.
• Operational Oversight: The new covenant requiring lender notification of major vendor changes may indicate closer lender scrutiny and could affect business flexibility.
• No Public Trading Symbol: The Company currently has no securities registered for trading on a public exchange, and no trading symbol is assigned, which affects liquidity and market visibility.

Summary for Investors

This amendment is a material event for Bright Mountain Media, Inc. The Company has secured near-term liquidity by deferring a principal and interest payment due March 31, 2026, but faces a significant debt wall of \$92.1 million due by December 20, 2026. Investors should be mindful of both the positive (liquidity relief, strong lender support) and the negative (debt overhang, equity dilution, tighter lender controls) implications.

The increase in Centre Lane Partners’ ownership to over a quarter of the Company’s shares may foreshadow future strategic actions, such as restructuring, refinancing, or even changes in control.

These developments are potentially price-sensitive and could impact future shareholder value, especially if the Company cannot successfully address the large debt maturities in 2026.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisors before making investment decisions related to Bright Mountain Media, Inc. or any other securities.

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