secwatch.observer — SEC 8-K summary
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Issuer:     Evolv Technologies Holdings, Inc. (EVLV)
CIK:        0001805385
Form:       8-K
Filed at:   2022-12-21T23:59:59+00:00
Accession:  0001104659-22-128865
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805385/000110465922128865/0001104659-22-128865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805385/000110465922128865/tm2232630d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-128865

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