INNODATA INC (INOD): debt financing — Innodata enters $10M revolving credit facility with Wells Fargo; initial borrowing base $3.3M

INNODATA INC

Credit Agreement with Wells Fargo provides secured revolver up to $10M, maturing April 4, 2026.
Borrowing base = 85% eligible accounts (foreign up to $2M); initial borrowing base ~$3.3M.
Interest at Daily Simple SOFR + 2.25%; financial covenant: fixed charge coverage ratio >= 1.10x by Dec 31, 2023.
Unused line fee 0.25% p.a.; closing fee 0.75% of $10M paid on closing.
Proceeds to support anticipated growth; secured by first-priority liens on assets of borrowings.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

INNODATA INC incurred revolving credit of $10.0 million with Wells Fargo Bank, National Association at Daily Simple SOFR plus 2.25% maturing April 4, 2026.

Instrument: revolving credit
Principal: $10.0 million
Counterparty: Wells Fargo Bank, National Association
Rate: Daily Simple SOFR plus 2.25%
Maturity: April 4, 2026
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a secured revolving line of credit (the "Revolving Credit Facility") up to an amount equal to the lesser of the borrowing base and $10.0 million (the "Maximum Credit")

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INNODATA INC entered into Credit Agreement with Wells Fargo Bank, National Association valued at $10.0 million (effective 2023-04-04).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: $10.0 million
Effective: 2023-04-04

Exact text from the filing

On April 4, 2023 (the “Closing Date”), Innodata Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association, as lender (the “Lender”)

View on SEC.gov

Browse all debt financings →

INNODATA INC filing history →

Source: SEC EDGAR

accession 0001104659-23-042168

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.