---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-039755"
form_type: "8-K"
ticker: null
cik: "0001826671"
company_name: "Near Intelligence, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:29:45.539395+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Near Intelligence defaults on $100M term loan; forbearance expires May 20; going concern risk

## Summary
- Failed to satisfy Junior Capital Financing Conditions and Liquidity covenants under Financing Agreement with Blue Torch Finance LLC.
- Outstanding obligations $102.1M (excl. $5M deferred consent fee) as of May 10; interest rate increased by 2% per annum.
- Entered forbearance agreements extending to May 20, 2023; Blue Torch may accelerate loans after forbearance ends.
- Cross-default could trigger acceleration of $5.97M Convertible Debentures; substantial doubt about going concern if defaults are not cured.
- Issued 3.87M shares to settle $9.34M in fees: $325K to Northland, $6M to Cantor Fitzgerald, $3.02M as deferred underwriting compensation.

## SEC filing metadata
- accession: 0001213900-23-039755
- form_type: 8-K
- cik: 0001826671
- company_name: Near Intelligence, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.04, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826671/000121390023039755/0001213900-23-039755-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826671/000121390023039755/ea178375-8k_nearintell.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-039755
- JSON: https://secwatch.observer/filing/0001213900-23-039755.json
- Plain text: https://secwatch.observer/filing/0001213900-23-039755.txt

## Key facts
- Debt Financings
  Near Intelligence, Inc. reported a default on term loan of up to $100.0 million with Blue Torch Finance LLC at adjusted Term SOFR plus 9.75% (subject to a floor set at 3.891% as of the effect maturing November 4, 2026.
  - Instrument: term loan
  - Principal: up to $100.0 million
  - Counterparty: Blue Torch Finance LLC
  - Rate: adjusted Term SOFR plus 9.75% (subject to a floor set at 3.891% as of the effect
  - Maturity: November 4, 2026
  - Event: default
  source text: Finance LLC, as administrative agent and collateral agent (“Blue Torch”). The Financing Agreement provides for senior secured term loans in an initial principal amount of up to $100.0 million and with interest accruing at a floating rate per annum equal to the adjusted Term SOFR plus 9.75% (subject to a floor set at 3.891% as of the effective date). Interest is
  evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023039755/0001213900-23-039755-index.htm

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