secwatch.observer — SEC 8-K summary
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Issuer:     INNODATA INC (INOD)
CIK:        0000903651
Form:       8-K
Filed at:   2023-04-05T23:59:59+00:00
Accession:  0001104659-23-042168
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innodata enters $10M revolving credit facility with Wells Fargo; initial borrowing base $3.3M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/903651/000110465923042168/0001104659-23-042168-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/903651/000110465923042168/tm2311450d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-042168

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