secwatch.observer — SEC 8-K summary
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Issuer:     Urgent.ly Inc. (ULYX)
CIK:        0001603652
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0000950170-25-027909
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urgently secures $20M ABL facility, extends second lien maturity from March 2025 to July 2026
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- New $20M asset-based revolving credit facility with MidCap Financial; proceeds to repay first lien debt and for working capital.
- Second lien loan amended: maturity extended from March 31, 2025 to July 31, 2026; interest rate set at 16% PIK then 13% cash.
- Issued 1,358,073 shares to lenders (Highbridge, Onex Credit, Whitebox) as amendment fee; up to 1.34M additional shares if debt not repaid by July 1, 2025.
- $2.6M amendment fee incurred under the second lien amendment.
- MidCap facility and debt extension support growth in connected mobility services and transform legacy roadside assistance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603652/000095017025027909/0000950170-25-027909-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603652/000095017025027909/uly-20250226.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-027909

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