Near Intelligence, Inc.: debt financing — Near Intelligence amends Blue Torch credit pact, waives default, reduces debt by $29M

Near Intelligence, Inc.

Amendment No. 4 waives Event of Default caused by failed leverage ratio test due to subordinated convertible debentures.
Subordinated convertible debentures excluded from leverage ratio calculation going forward.
$29M optional prepayment applied to principal; $1.74M PIK payment capitalized; new principal $76.74M.
Blue Torch waives post-default interest rate and confirms no additional fees from the default.
Specified account closed; no remaining loan proceeds available to borrower.

item 1.01 item 2.03 item 9.01

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. amended credit facility of $76,742,047.02 with Blue Torch Finance LLC.

Instrument: credit facility
Principal: $76,742,047.02
Counterparty: Blue Torch Finance LLC
Event: amendment

Exact text from the filing

After giving effect to the application of the Prepayment Amount and the PIK Payment, the principal balance of the loans under the Financing Agreement was $76,742,047.02 as of July 18, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Near Intelligence, Inc. amended Amendment No. 4 to Financing Agreement with Blue Torch Finance LLC, as administrative agent, and the Required Lenders valued at $29,000,000 (effective 2023-07-18).

Action: amendment
Agreement: credit facility
Counterparty: Blue Torch Finance LLC, as administrative agent, and the Required Lenders
Value: $29,000,000
Effective: 2023-07-18

Exact text from the filing

On July 18, 2023, the Company entered into that certain Amendment No. 4 to Financing Agreement (“ Amendment No. 4 ”) by and among Near Intelligence LLC, the Company’s subsidiary guarantors, the Required Lenders (as defined therein) and Blue Torch, as administrative agent, pursuant to which, among other things, the parties agreed to amend certain terms of the Financing Agreement relating to the Leverage Ratio to provide that the Subordinated Convertible Debentures will not be treated as indebtedness for purposes of calculating the Leverage Ratio pursuant to the Financing Agreement, nor will any other convertible notes, debentures or similar securities of the Company that constitute Subordinated Indebtedness (as defined in Financing Agreement).

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001213900-23-058647

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.