secwatch.observer — SEC 8-K summary
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Issuer:     Identiv, Inc. (INVE)
CIK:        0001036044
Form:       8-K
Filed at:   2022-04-20T23:59:59+00:00
Accession:  0001193125-22-111173
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Identiv replaces $20M revolving credit facility with non-formula loan; lowers interest rate, adjusts covenants.
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- Old $20M borrowing-base revolving facility terminated; new $20M non-formula revolving facility established with no borrowing base.
- Interest rate lowered from prime to prime minus 0.25% for Nonformula II Advances.
- Financial covenants amended: minimum trailing 12-month EBITDA of $1.2M and minimum current ratio of 1.75:1, measured quarterly.
- No advances outstanding under prior facility; $50k facility fee paid to East West Bank.
- Covenant minimum unrestricted cash at Bank of $5M added to Compliance Certificate.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1036044/000119312522111173/0001193125-22-111173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1036044/000119312522111173/d348935d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-111173

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