---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-020676"
form_type: "8-K"
ticker: "QPRC"
cik: "0000824416"
company_name: "QUEST PATENT RESEARCH CORP"
filed_at: "2023-03-16T23:59:59+00:00"
generated_at: "2026-06-18T01:21:51.031785+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Quest Patent Research enters $32.3M financing deal for patent acquisitions

## Summary
- QF3 provides up to $4M for operating expenses, $3.3M for Tower Semiconductor patent portfolio, and up to $25M for future patent purchases.
- In exchange, QF3 receives a portion of net proceeds from patent monetization; payments are non-recourse except upon default.
- Intercreditor agreement with Intelligent Partners LLC must be signed by March 17, 2023, or $3.3M will be returned to QF3.
- Security interest granted in patents and proceeds; events of default include CEO departure, insolvency, or breach of agreements.

## SEC filing metadata
- accession: 0001213900-23-020676
- form_type: 8-K
- ticker: QPRC
- cik: 0000824416
- company_name: QUEST PATENT RESEARCH CORP
- filed_at: 2023-03-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/824416/000121390023020676/0001213900-23-020676-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/824416/000121390023020676/ea175366-8k_questpatent.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-020676
- JSON: https://secwatch.observer/filing/0001213900-23-020676.json
- Plain text: https://secwatch.observer/filing/0001213900-23-020676.txt

## Key facts
- Material Agreements
  QUEST PATENT RESEARCH CORP entered into Purchase Agreement with QPRC Finance III LLC (effective 2023-03-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: QPRC Finance III LLC
  - Effective: 2023-03-12
  source text: On March 12, 2023, the Company and its newly formed wholly-owned subsidiary, Harbor Island Dynamic LLC (“Harbor”), entered into a series of agreements, all dated March 12, 2023, with QF3, a non-affiliated party, including a prepaid forward purchase agreement (the “Purchase Agreement”), a security agreement (the “Security Agreement”), a patent security agreement (the “Patent Security Agreement”
  evidence_url: https://www.sec.gov/Archives/edgar/data/824416/000121390023020676/0001213900-23-020676-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.