{"url_path":"/sec/clro/8-k/2026-07-01/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-01","source_url":"https://www.sec.gov/Archives/edgar/data/840715/0001753926-26-001118-index.html","accession_number":"0001753926-26-001118","cik":"0000840715","ticker":"CLRO","issuer_name":"CLEARONE INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/840715/0001753926-26-001118-index.html","primary_entity_key":"0000840715","primary_entity_name":"CLEARONE INC"},"word_count":336,"has_tables":true,"body_markdown":"Item 1.01              Entry into a Material Definitive Agreement.\n\n \n\nOn June 30, 2026, ClearOne, Inc. (the \"Company\") entered into a Loan Agreement (the \"Loan Agreement\") with First Finance Ltd. (\"First Finance\"), pursuant to which First Finance agreed to lend the Company up to $1,000,000 in the aggregate (the \"Loan\"). The Loan is structured in tranches, with an initial tranche of $500,000 and additional tranches of $250,000 each, in each case on dates mutually agreed by the parties.\n\nThe material terms of the Loan Agreement are as follows:\n\nPrincipal Amount.  Up to $1,000,000 in aggregate, advanced in tranches ($500,000 initial tranche; $250,000 per additional tranche).\n\nInterest Rate.  11% per annum, calculated daily on the basis of a 360-day year, accruing from the applicable advance date until repayment in full. Overdue interest is compounded and added to principal.\n\nMaturity Date.  The earlier of (i) six (6) months following June 30, 2026 (i.e., December 30, 2026) or (ii) such other date as the parties may mutually agree in writing.\n\nPrepayment.  The Company may prepay all outstanding indebtedness at any time without notice, bonus or penalty, provided no Event of Default is outstanding.\n\nEvents of Default.  The Loan Agreement contains customary events of default, including failure to pay principal or interest when due (subject to a 10 business day cure period), repayment of other indebtedness prior to this Loan, assignment for the benefit of creditors, liquidation or dissolution, appointment of a receiver, and bankruptcy proceedings. Upon an event of default, the outstanding indebtedness becomes immediately due and payable (automatically in the case of insolvency-related events, or upon demand for payment failure).\n\nGoverning Law.  State of Nevada.\n\nThe Company expects to use the proceeds of the Loan for general working capital purposes.\n\nThe foregoing description of the Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Loan Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference."}