Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ACTELIS NETWORKS INC entered into Credit Agreement with Bank Mizrahi-Tefahot valued at $1.5 million credit facility, annual fixed fee of Federal SOFR rate plus 5.5%, expires December 27, (effective 2024-01-15).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bank Mizrahi-Tefahot
- Value
- $1.5 million credit facility, annual fixed fee of Federal SOFR rate plus 5.5%, expires December 27,
- Effective
- 2024-01-15
Exact text from the filing
On January 15, 2024, Actelis Networks Israel, Ltd. (the “ Company ”), a wholly owned subsidiary of Actelis Networks, Inc., entered into a credit agreement (the “ Credit Agreement ”) with Bank Mizrahi-Tefahot (the “ Lender ”). The Credit Agreement provides for a $1.5 million credit facility available to be used by the Company (“ New Credit Facility ”). Under the New Credit Facility, which will be secured by the Company's customer invoices, the Company will pay an annual fixed fee of a Federal SOFR rate plus 5.5% on any amount withdrawn under the New Credit Facility. The New Credit Facility expires on December 27, 2024, subject to extension.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ACTELIS NETWORKS INC entered into Agreement with Migdalor regarding charge carve-out with Migdalor Business Investments Fund valued at Migdalor agreed to carve out from its floating charge to allow Mizrachi to place first priority char (effective 2024-01-15).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Migdalor Business Investments Fund
- Value
- Migdalor agreed to carve out from its floating charge to allow Mizrachi to place first priority char
- Effective
- 2024-01-15
Exact text from the filing
On January 15, 2024, the Company entered into a new agreement with Migdalor whereby Migdalor agreed to carve out from the aforesaid floating charge and allow Mizrachi to place its own first priority charge over the Company’s open customer invoices to secure the New Credit Facility. The Company agreed to perform a partial early repayment of the Migdalor Loan Agreement in the amount of ILS 2,000,000 (approximately $550,000).
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