secwatch.observer — SEC 8-K summary
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Issuer:     Urgent.ly Inc. (ULYX)
CIK:        0001603652
Form:       8-K
Filed at:   2024-01-22T23:59:59+00:00
Accession:  0000950170-24-005929
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urgently wins multi-year deal with global top 5 OEM; loses customer representing 25% of revenue
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- New multi-year engagement with a global top 5 US-based automotive OEM for luxury brand starting 2024.
- Customer partner (~25% of prior revenue) will not renew its contract, expiring January 31, 2024.
- Amended loan agreements: prepaid $17.5M term loans under Structural Loan, extended maturity to Jan 1, 2025; $10M outstanding.
- Fourth Amendment to Highbridge Loan allows subsidiary guarantors; $40M outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603652/000095017024005929/0000950170-24-005929-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603652/000095017024005929/uly-20240119.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-005929

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer