secwatch.observer — SEC 8-K summary
======================================

Issuer:     Digerati Technologies, Inc. (DTGI)
CIK:        0001014052
Form:       8-K
Filed at:   2021-12-23T23:59:59+00:00
Accession:  0001213900-21-067306
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Digerati amends credit pact with Post Road; deletes Term Loan B, adds 3% exit fee
--------------------------------------------------------------------------------

- Amendment deletes Term Loan B and recapitalizes it; replaces Term Loan A Note with Amended & Restated Note.
- Prepayment order changed: fees, accrued interest, premium, then principal; added 3% exit fee on prepaid principal.
- One-time cash interest payment of $80,402.41 on Term Loan A and $26,273.03 on Term Loan B made at closing.
- Delayed Draw Loan proceeds to fund telecom asset acquisition expected to close in weeks; also for working capital.
- New covenant requires T3 Nevada to keep minimum $1.5M cash on hand at end of each fiscal quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014052/000121390021067306/0001213900-21-067306-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014052/000121390021067306/ea152973-8k_digeratitech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-067306

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer