Onar Holding agrees to pay USD 1.5 million plus 18% interest in settlement tied to promissory note dispute
ONAR•Related lawsuit to be dismissed
The settlement provides mutual releases tied to the note dispute, supporting dismissal of the related Delaware lawsuit.
Payment schedule and final true-up
Payments include USD 50,000 within one business day, USD 300,000 by Aug. 30, 2026, then 14 quarterly USD 75,000 installments.
A final true-up payment is due the first business day of February 2030 for any remaining principal or accrued unpaid interest.
Settlement restructures promissory note repayment
Onar Holding entered a settlement agreement that restructures repayment of a USD 1.5 million senior secured promissory note.
The deal sets simple interest at 18% from March 18, 2024, accruing only on unpaid principal with no compounding.
