secwatch.observer — SEC 8-K summary
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Issuer:     Marti Technologies, Inc. (MRT)
CIK:        0001852767
Form:       8-K
Filed at:   2022-12-23T23:59:59+00:00
Accession:  0001104659-22-129933
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Galata Acquisition Corp. amends PIPE note terms: rate to 15%, expands funding sources; Marti waives $50M cash condition
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- Convertible note interest rate increased from 12% to 15% per annum (10% cash + 5% PIK).
- Minimum cash condition for subscription expanded to include Qualified ABL/Equity Commitments and company cash; still $150M aggregate.
- Marti Technologies waived the BCA Minimum Cash Condition requiring $50M of SPAC cash at closing.
- Permitted PFG Debt limit under Indenture raised from $18M to $20M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852767/000110465922129933/0001104659-22-129933-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852767/000110465922129933/tm2233394d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-129933

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