secwatch.observer — SEC 8-K summary
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Issuer:     Digerati Technologies, Inc. (DTGI)
CIK:        0001014052
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0001213900-22-065559
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digerati extends forbearance with Post Road through Nov 15, 2022 as defaults continue
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- Forbearance period extended to Nov 15, 2022, covering existing and anticipated defaults.
- Defaults include failure to maintain Senior Leverage Ratio of 4.06:1 and Min Liquidity of $2.0M for July 31 quarter.
- Outstanding principal as of Oct 3, 2022: Term Loan A $22.8M, Term Loan C $10.2M.
- Loan Parties reaffirm no defenses, no offset, and grant continuing security interest in all collateral.
- Anticipated defaults for Oct 31 quarter include similar covenant failures (Leverage <4.05:1, Liquidity <$2.0M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1014052/000121390022065559/0001213900-22-065559-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1014052/000121390022065559/ea167414-8k_digeratitech.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-065559

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