secwatch.observer — SEC 8-K summary
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Issuer:     KALTURA INC (KLTR)
CIK:        0001432133
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001432133-23-000166
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/0001432133-23-000166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1432133/000143213323000166/kltr-20231221.htm
  HTML page:      https://secwatch.observer/filing/0001432133-23-000166

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