secwatch.observer — SEC 8-K summary
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Issuer:     Near Intelligence, Inc. (—)
CIK:        0001826671
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001213900-23-041246
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Near Intelligence waives defaults, raises $13.9M in convertible debentures; amended loan covenants
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/0001213900-23-041246-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826671/000121390023041246/ea178870-8k_nearintell.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-041246

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer