Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Evolv Technologies Holdings, Inc. incurred term loan of $30 million with Silicon Valley Bank at the greater of (a) the WSJ Prime Rate plus 1.0% or (b) 7.25% per annum maturing 36-month anniversary of the extension thereof.
- Instrument
- term loan
- Principal
- $30 million
- Counterparty
- Silicon Valley Bank
- Rate
- the greater of (a) the WSJ Prime Rate plus 1.0% or (b) 7.25% per annum
- Maturity
- 36-month anniversary of the extension thereof
- Event
- incurrence
Exact text from the filing
The SVB Credit Agreement provides for, on the Closing Date, an initial term loan advance in an original principal amount equal to $30 million, with the opportunity to obtain, within 18 months after the Closing Date, additional term loan advances, subject to satisfaction of certain conditions, in an aggregate principal amount equal to $20 million (subject to an increase of $25 million, upon satisfaction of certain conditions and approval from SVB), in each case, in order to finance hardware shipped to customer locations (collectively, the “ Term Loans ”). Each advance of Term Loans will mature on the 36-month anniversary of the extension thereof.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Evolv Technologies Holdings, Inc. entered into SVB Credit Agreement with Silicon Valley Bank valued at $30 million initial term loan advance, with opportunity for up to $20 million additional term loans (effective 2022-12-21).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Silicon Valley Bank
- Value
- $30 million initial term loan advance, with opportunity for up to $20 million additional term loans
- Effective
- 2022-12-21
Exact text from the filing
On December 21, 2022 (the “ Closing Date ”), Evolv Technologies Holdings, Inc. (the “ Company ”) entered into a Loan and Security Agreement (the “ SVB Credit Agreement ”) by and among the Company, Evolv Technologies, Inc., a wholly-owned subsidiary of the Company, and Silicon Valley Bank, a California corporation (“ SVB ”), as the lender.
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