--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-23-041246" form_type: "8-K" ticker: null cik: "0001826671" company_name: "Near Intelligence, Inc." filed_at: "2023-05-18T23:59:59+00:00" generated_at: "2026-06-14T21:27:51.859469+00:00" event_type: "debt" sentiment: "negative" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Near Intelligence waives defaults, raises $13.9M in convertible debentures; amended loan covenants ## Summary - 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. ## SEC filing metadata - accession: 0001213900-23-041246 - form_type: 8-K - cik: 0001826671 - company_name: Near Intelligence, Inc. - filed_at: 2023-05-18T23:59:59+00:00 - event_type: debt - sentiment: negative - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 1.01, 2.03, 3.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/ea178870-8k_nearintell.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-23-041246 - JSON: https://secwatch.observer/filing/0001213900-23-041246.json - Plain text: https://secwatch.observer/filing/0001213900-23-041246.txt ## Key facts - Debt Financings 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 source text: 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 ”) evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm - Debt Financings 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 source text: 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. evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm - Debt Financings 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 source text: 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 ” evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm - Material Agreements 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm - Material Agreements 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm - Material Agreements 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.