8-K
filed May 18, 2023, 7:59 PM ET
CIK 0001826671
debt
confidence high
sentiment negative
materiality 0.70
Near Intelligence, Inc.: debt financing — Near Intelligence waives defaults, raises $13.9M in convertible debentures; amended loan covenants
Near Intelligence, Inc.
- Existing defaults under Blue Torch loan waived; $21M Junior Capital condition satisfied as of May 18.
- Issued convertible debentures: $2.5M Part A-2 (0.01%) and $11.4M Part B (10%, 8% OID, net $10.5M).
- New minimum liquidity: $10M until May 20, then $20M; $2M consent fee capitalized.
- Affiliate of director Mini Krishnamoorthy (KludeIn Prime) receives $600K convertible and 15,000 warrants.
- Part B requires $1M monthly trigger payments if VWAP below $0.45 floor; officers personally guarantee Yorkville.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Near Intelligence, Inc. incurred convertible notes of $2,500,000 with Part A-2 Investors.
- Instrument
- convertible notes
- Principal
- $2,500,000
- Counterparty
- Part A-2 Investors
- Event
- incurrence
Exact text from the filing
On May 18, 2023, the Company entered into a securities purchase agreement (the “ Part A-2 Purchase Agreement ”) with the investors listed on Schedule I thereto (the “ Part A-2 Investors ”), in connection with the issuance and sale by the Company of (i) convertible debentures in an aggregate principal amount of $2,500,000 (the “ Part A-2 Convertible Debentures ”)
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Near Intelligence, Inc. amended credit facility with Blue Torch Finance LLC (as administrative agent) and the Required Lenders.
- Instrument
- credit facility
- Counterparty
- Blue Torch Finance LLC (as administrative agent) and the Required Lenders
- Event
- amendment
Exact text from the filing
pursuant to which, among other things, (i) Blue Torch waived the Existing Defaults and (ii) the parties agreed to amend certain terms of the Financing Agreement relating to (x) the Junior Capital Financing Conditions, (y) the minimum Liquidity requirements and (z) the leverage ratios required for withdrawals of proceeds under the Financing Agreement.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Near Intelligence, Inc. incurred convertible notes of $11,440,217 with Part B Investors.
- Instrument
- convertible notes
- Principal
- $11,440,217
- Counterparty
- Part B Investors
- Event
- incurrence
Exact text from the filing
Also on May 18, 2023, the Company entered into a securities purchase agreement (the “ Part B Purchase Agreement ” and, together with the Part A-2 Purchase Agreement, the “ Purchase Agreements ”) with the investors listed on Schedule I thereto (the “ Part B Investors ” and together with the Part A-2 Investors, the “ Investors ”), in connection with the issuance and sale by the Company of (i) convertible debentures in an aggregate principal amount of $11,440,217 (the “ Part B Convertible Debentures ”
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Near Intelligence, Inc. entered into Part A-2 Purchase Agreement with the investors listed on Schedule I thereto valued at aggregate principal amount of $2,500,000 (effective 2023-05-18).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- the investors listed on Schedule I thereto
- Value
- aggregate principal amount of $2,500,000
- Effective
- 2023-05-18
Exact text from the filing
On May 18, 2023, the Company entered into a securities purchase agreement (the “ Part A-2 Purchase Agreement ”) with the investors listed on Schedule I thereto (the “ Part A-2 Investors ”), in connection with the issuance and sale by the Company of (i) convertible debentures in an aggregate principal amount of $2,500,000
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Near Intelligence, Inc. entered into Part B Purchase Agreement with the investors listed on Schedule I thereto valued at aggregate principal amount of $11,440,217 (effective 2023-05-18).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- the investors listed on Schedule I thereto
- Value
- aggregate principal amount of $11,440,217
- Effective
- 2023-05-18
Exact text from the filing
Also on May 18, 2023, the Company entered into a securities purchase agreement (the “ Part B Purchase Agreement ” and, together with the Part A-2 Purchase Agreement, the “ Purchase Agreements ”) with the investors listed on Schedule I thereto (the “ Part B Investors ” and together with the Part A-2 Investors, the “ Investors ”), in connection with the issuance and sale by the Company of (i) convertible debentures in an aggregate principal amount of $11,440,217
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Near Intelligence, Inc. amended Waiver and Amendment No. 3 to Financing Agreement with Blue Torch Finance LLC (effective 2023-05-18).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Blue Torch Finance LLC
- Effective
- 2023-05-18
Exact text from the filing
Effective as of May 18, 2023, the Company entered into that certain Waiver and Amendment No. 3 to Financing Agreement (“ Waiver and Amendment No. 3 ”) with Near Intelligence LLC, the Company’s subsidiary guarantors, Blue Torch and the Required Lenders
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.