---
schema_version: "secwatch.filing_event.v1"
accession: "0001432133-23-000166"
form_type: "8-K"
ticker: "KLTR"
cik: "0001432133"
company_name: "KALTURA INC"
filed_at: "2023-12-27T23:59:59+00:00"
generated_at: "2026-06-07T06:51:33.397072+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Kaltura amends credit: $3.5M term loan, maturity to 2026, ARR covenant removed, default waived

## Summary
- Received $3.5M incremental term loan from SVB; total term loans now $35M
- Maturity extended to December 21, 2026 for revolving and term loan facilities
- Interest rate margins reduced: SOFR to 2.50%, ABR to 1.50% per annum
- Removed annualized recurring revenue covenant; revised EBITDA and liquidity covenants
- Waived Specified Event of Default due to incorrect ARR calculation for Q3 2023

## SEC filing metadata
- accession: 0001432133-23-000166
- form_type: 8-K
- ticker: KLTR
- cik: 0001432133
- company_name: KALTURA INC
- filed_at: 2023-12-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/0001432133-23-000166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/kltr-20231221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001432133-23-000166
- JSON: https://secwatch.observer/filing/0001432133-23-000166.json
- Plain text: https://secwatch.observer/filing/0001432133-23-000166.txt

## Key facts
- Debt Financings
  KALTURA INC incurred term loan of $3,500,000 with Silicon Valley Bank, a division of First-Citizens Bank & Trust maturing December 21, 2026.
  - Instrument: term loan
  - Principal: $3,500,000
  - Counterparty: Silicon Valley Bank, a division of First-Citizens Bank & Trust
  - Maturity: December 21, 2026
  - Event: incurrence
  source text: the Fifth Amendment (i) provided the Company with an incremental term loan in the aggregate amount of $3,500,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/0001432133-23-000166-index.htm
- Debt Financings
  KALTURA INC amended credit facility with Silicon Valley Bank, a division of First-Citizens Bank & Trust at SOFR Loans (as defined in the Credit Agreement) to 2.50% per annum and the inter maturing December 21, 2026.
  - Instrument: credit facility
  - Counterparty: Silicon Valley Bank, a division of First-Citizens Bank & Trust
  - Rate: SOFR Loans (as defined in the Credit Agreement) to 2.50% per annum and the inter
  - Maturity: December 21, 2026
  - Event: amendment
  source text: the Fifth Amendment (i) provided the Company with an incremental term loan in the aggregate amount of $3,500,000, (ii) extended the maturity date of the Company’s revolving and term loan facilities until December 21, 2026, (iii) reduced the interest rate applicable margin to any SOFR Loans (as defined in the Credit Agreement) to 2.50% per annum and the interest rate applicable margin to any ABR Loans (as defined in the Credit Agreement) to 1.50% per annum
  evidence_url: https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/0001432133-23-000166-index.htm
- Material Agreements
  KALTURA INC amended Fifth Amendment with Silicon Valley Bank, a division of First-Citizens Bank & Trust, as Administrative Agent, Issuing Lender and Swingline Lender valued at $3,500,000 (effective 2023-12-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Silicon Valley Bank, a division of First-Citizens Bank & Trust, as Administrative Agent, Issuing Lender and Swingline Lender
  - Value: $3,500,000
  - Effective: 2023-12-21
  source text: On December 21, 2023, Kaltura, Inc. (the “Company”) entered into the Fifth Amendment to Credit Agreement dated as of December 21, 2023 (the “Fifth Amendment”), by and among the Company, the subsidiaries of the Company party thereto, the several banks and other financial institutions or entities party thereto, and Silicon Valley Bank, a division of First-Citizens Bank & Trust (“SVB”), as the Administrative Agent, the Issuing Lender and the Swingline Lender
  evidence_url: https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/0001432133-23-000166-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.