8-K
filed October 10, 2023, 7:59 PM ET
CIK 0001929589
debt
confidence high
sentiment negative
materiality 0.90
MariaDB plc: debt financing — MariaDB enters $26.5M senior secured note due Jan 10, 2024; four directors replaced
MariaDB plc
- Issued $26.5M senior secured promissory note to RP Ventures LLC; 10% interest, matures January 10, 2024.
- Proceeds used to repay EIB loan in full and for working capital; secured by substantially all assets.
- Four directors (Suh, Russell, Berenson, Wang) resigned; Zubarev and Fanfant appointed; Ingels remains chairman.
- Company must hire a Chief Restructuring Officer within 5 business days; restricted from other financings until maturity.
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
MariaDB plc faced acceleration on loan with European Investment Bank.
- Instrument
- loan
- Counterparty
- European Investment Bank
- Event
- acceleration
Exact text from the filing
Under terms of the EIB Loan, transactions contemplated by the Note and the Security Agreement may allow the European Investment Bank to demand the Company immediately repay all amounts outstanding under the EIB Loan.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
MariaDB plc incurred senior notes of $26.5 million with RP Ventures LLC at ten percent (10%) per annum maturing the earlier of (i) January 10, 2024, (ii) the occurrence of a Change of Control... (iii) the occurrence of any breach of any of the documentation relating to th.
- Instrument
- senior notes
- Principal
- $26.5 million
- Counterparty
- RP Ventures LLC
- Rate
- ten percent (10%) per annum
- Maturity
- the earlier of (i) January 10, 2024, (ii) the occurrence of a Change of Control... (iii) the occurrence of any breach of any of the documentation relating to th
- Event
- incurrence
Exact text from the filing
On October 10, 2023 (the "Closing Date"), MariaDB plc (the "Company") issued a senior secured promissory note to RP Ventures LLC ("RP Ventures"), a Delaware limited liability company, in the principal amount of $26.5 million (the "Note").
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Theodore Wang resigned as Director at MariaDB plc.
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Alexander Suh, Christine Russell, Harold Berenson, and Theodore Wang tendered their resignation from the Board and, to the extent applicable, all committees thereof, in each case, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Fanfant was appointed as Director at MariaDB plc.
- Action
- appointed
- Role
- Director
Exact text from the filing
Yakov “Jack” Zubarev and Michael Fanfant were appointed to the Board as Class II and I directors, respectively, with terms ending at the 2026 annual general meeting of shareholders and 2024 annual general meeting of shareholders, respectively.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Harold Berenson resigned as Director at MariaDB plc.
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Alexander Suh, Christine Russell, Harold Berenson, and Theodore Wang tendered their resignation from the Board and, to the extent applicable, all committees thereof, in each case, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alexander Suh resigned as Director at MariaDB plc.
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Alexander Suh, Christine Russell, Harold Berenson, and Theodore Wang tendered their resignation from the Board and, to the extent applicable, all committees thereof, in each case, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jurgen Ingels changed role as Chair of the Board at MariaDB plc.
- Action
- will serve as chair
- Role
- Chair of the Board
Exact text from the filing
Current director Jurgen Ingels will serve as chair of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Yakov "Jack" Zubarev was appointed as Director at MariaDB plc.
- Action
- appointed
- Role
- Director
Exact text from the filing
Yakov “Jack” Zubarev and Michael Fanfant were appointed to the Board as Class II and I directors, respectively, with terms ending at the 2026 annual general meeting of shareholders and 2024 annual general meeting of shareholders, respectively.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Christine Russell resigned as Director at MariaDB plc.
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Alexander Suh, Christine Russell, Harold Berenson, and Theodore Wang tendered their resignation from the Board and, to the extent applicable, all committees thereof, in each case, effective immediately.
View on SEC.gov
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