--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-278859" form_type: "8-K" ticker: "KORE" cik: "0001855457" company_name: "KORE Group Holdings, Inc." filed_at: "2023-11-16T23:59:59+00:00" generated_at: "2026-06-08T01:28:25.430740+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # KORE closes $150M Searchlight investment and $185M term loan, reducing debt by ~$120M ## Summary - $150M strategic investment from Searchlight in preferred stock (13% dividend, 10yr) and penny warrants for 11.8M shares. - New $185M term loan from Whitehorse (SOFR+650bps) plus $25M revolver; repaid ~$300M prior debt, first lien leverage 5.2x to 3.2x. - Cash interest expense reduced ~$14M/year; expects to be free cash flow positive; $15M added to balance sheet. - Board adds two Searchlight directors (Andrew Frey, David Fuller); Mark Neporent resigns. - No material debt maturities until H2 2028; total debt leverage reduced from 7.3x to 5.3x TTM Adjusted EBITDA. ## SEC filing metadata - accession: 0001193125-23-278859 - form_type: 8-K - ticker: KORE - cik: 0001855457 - company_name: KORE Group Holdings, Inc. - filed_at: 2023-11-16T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 1.02, 2.03, 3.02, 3.03, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/d882882d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-278859 - JSON: https://secwatch.observer/filing/0001193125-23-278859.json - Plain text: https://secwatch.observer/filing/0001193125-23-278859.txt ## Key facts - Executive change Mark Neporent resigned as Director at KORE Group Holdings, Inc.. - Action: resigned - Role: Director source text: Mark Neporent resigned from the Board and all committees of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm - Executive change David Fuller was appointed as Director at KORE Group Holdings, Inc.. - Action: appointed - Role: Director source text: (ii) David Fuller to serve as a Class II director of the Company until the 2026 Annual Meeting of Stockholders evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm - Executive change Andrew Frey was appointed as Director at KORE Group Holdings, Inc.. - Action: appointed - Role: Director source text: the board of directors of the Company (the “ Board ”) appointed each of (i) Andrew Frey to serve as a Class I director of the Company until the 2025 Annual Meeting of Stockholders evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm - Material Agreements KORE Group Holdings, Inc. entered into Investment Agreement with Searchlight IV KOR, L.P. (effective 2023-11-09). - Action: entry - Agreement: equity purchase - Counterparty: Searchlight IV KOR, L.P. - Effective: 2023-11-09 source text: As previously disclosed on November 9, 2023, KORE Group Holdings, Inc., a Delaware corporation (the “ Company ”), entered into an Investment Agreement (the “ Investment A greement ”) with Searchlight IV KOR, L.P., a Delaware limited partnership affiliated with Searchlight Capital Partners, L.P. (the “ Purchaser ”), whereby the Company agreed to issue and sell to the Purchaser (i) shares of Series A-1 Preferred Stock of the Company, par value of $0.0001 per share (the “ Series A-1 Preferred Stock ”), at a price per share of $1,000, and (ii) a warrant (the “ Warrant ”) to purchase shares of common stock of the Company, par value of $0.0001 per share (the “ Common Stock ”), with an exercise price of $0.01 per share (as may be adjusted in accordance with the Warrant) in a private placement (collectively, the “ Financing ”) for an aggregate purchase price of $150 million. evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm - Material Agreements KORE Group Holdings, Inc. entered into New Credit Agreement with Whitehorse Capital Management, LLC, UBS Securities LLC (effective 2023-11-15). - Action: entry - Agreement: credit facility - Counterparty: Whitehorse Capital Management, LLC, UBS Securities LLC - Effective: 2023-11-15 source text: on November 15, 2023, the previously announced credit agreement (the “ New Credit Agreement ”) entered into on November 9, 2023 by and among the Company, only with respect to certain limited sections thereof, KORE Wireless Group, Inc., as borrower, and certain other subsidiaries of the Company, as guarantors, Whitehorse Capital Management, LLC, as Administrative Agent and Collateral Agent, and UBS Securities LLC, as Lead Arranger and Bookrunner, that consisted of a term loan of $185.0 million as well as a senior secured revolving credit facility of $25.0 million (collectively, the “ Credit Facilities ”) became effective. evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm - Material Agreements KORE Group Holdings, Inc. terminated a credit facility with UBS (effective 2023-11-15). - Action: termination - Agreement: credit facility - Counterparty: UBS - Effective: 2023-11-15 source text: The proceeds of the Credit Facilities were used to fully repay the previously existing senior secured term loan and revolver facilities entered into on December 21, 2018 (as from time to time amended and supplemented) with UBS. evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000119312523278859/0001193125-23-278859-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.