---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-128865"
form_type: "8-K"
ticker: "EVLV"
cik: "0001805385"
company_name: "Evolv Technologies Holdings, Inc."
filed_at: "2022-12-21T23:59:59+00:00"
generated_at: "2026-06-21T00:59:29.647994+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Evolv Technology closes $75M non-dilutive debt facility with Silicon Valley Bank

## Summary
- Initial $30M term loan drawn at close; up to $20M additional (or $25M with conditions) within 18 months.
- Interest rate: greater of WSJ Prime + 1% or 7.25% p.a.; loans mature 36 months from each advance.
- Proceeds to finance hardware for subscription contracts, enabling capital-free SaaS model.
- Secured by substantially all assets except IP; liquidity covenant of 2.00:1 tested monthly.
- Company says facility strengthens balance sheet and supports rapidly growing subscription business.

## SEC filing metadata
- accession: 0001104659-22-128865
- form_type: 8-K
- ticker: EVLV
- cik: 0001805385
- company_name: Evolv Technologies Holdings, Inc.
- filed_at: 2022-12-21T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1805385/000110465922128865/0001104659-22-128865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805385/000110465922128865/tm2232630d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-128865
- JSON: https://secwatch.observer/filing/0001104659-22-128865.json
- Plain text: https://secwatch.observer/filing/0001104659-22-128865.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805385/000110465922128865/0001104659-22-128865-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805385/000110465922128865/0001104659-22-128865-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.