AUTOWEB, INC. : Other Events (form 8-K)

Item 8.01 Other Events.

On January 13, 2021, AutoWeb, Inc. ("Company") received a notice from PNC Bank, National Association ("PNC") regarding forgiveness of the loan in the principal amount of approximately $1.38 million that was made to the Company pursuant to the Small Business Administration ("SBA") Paycheck Protection Program ("PPP") under the Coronavirus Aid, Relief and Economic Security Act of 2020. The notice states that SBA has remitted to PNC a loan forgiveness payment equal to $1,394,369.93, which constitutes full payment and forgiveness of the principal amount of the PPP loan and all accrued interest.

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