Prospect Global amends $148 million promissory note held by Karlsson

Senior secured promissory notes were sold to investor on Aug. 1, 2012

By Devika Patel

Knoxville, Tenn., March 11 - Prospect Global Resources Inc. amended the terms of its $148 million senior first-priority secured promissory note on March 7, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The note was sold to the Karlsson Group on Aug. 1, 2012 and was previously amended on June 26, 2013.

The company and investor agreed to extend the date by which the debt may be prepaid for $25 million to March 13 from March 10. Prospect Global said in the filing that it is in negotiations to extend this date further in order to raise the funds for the prepayment.

Based in Denver, Prospect Global is a resource exploration company.

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